Banks focus on vendor collaboration for treasury services
Societe Generale’s decision to launch a joint treasury management solution with Kyriba is just the latest example of banks and technology vendors collaborating to offer more sophisticated treasury functionality.
Societe Generale and software firm Kyriba have announced that they are developing a treasury management solution that will include payment automation and fraud management functionality.
It will be available on SG Markets, the French bank’s digital client portal for corporates, and will be launched during the fourth quarter of 2021, initially for the French market.
The deal comes almost two years after Citi made a similar investment in treasury automation with integration platform developer Cashforce. At the time, the bank’s global head of treasury advisory referred to an increasing appetite within corporate treasury for integrated decision support tools from their banks.
Our development focus is split between existing solutions and creating new offerings
Stephen Randall, global head of liquidity management at Citi, tells Euromoney: “The tie-in with Cashforce is a good example of partnering with an external vendor to offer our clients a cash forecasting and working capital visibility tool that can bring all their ERP [enterprise resource planning] data together and provide them with greater insight into the positions generated across their organization.”