SocGen to launch cloud treasury management system

Societe Generale has joined forces with Kyriba to launch a cloud treasury management system.

The new system, designed for the bank’s corporate clients and their subsidiaries, will include payment automation and fraud management functionalities.

The treasury management function, which will be available the bank’s digital client portal, will be fully hosted in the cloud and is based on Kyriba’s global platform.

It will also include real-time monitoring of treasury positions and provisional management of liquidity flows, payment automation (remittances), banking delegation and mandate management, enhanced fraud management, and multi-bank connectivity and ERP, payment validation workflow management.

Societe General said that the functionalities will “offer the same level of quality” as those offered to the world’s largest companies, in terms of data management, cyber-security, business processes, and innovation.

It will be launched during the fourth quarter of 2021 starting with the French market.

“Treasury management is a key area of focus for companies and we believe it is essential to make this easier through simple, efficient and secure tools,” said Alexandre Maymat, head of global transaction and payment services at Societe Generale. “This is even more important as we exit the current crisis and, depending on their size, some companies are poorly equipped in this area.

Maymat added: “With our open architecture model allowing us to offer our clients the best solutions on the market, it seemed natural to partner with Kyriba, whose solutions are known for their robustness and adaptability. This partnership also inaugurates other collaborations that we will be keen to develop with Kyriba to ensure we can always better anticipate and meet the needs of our clients.”

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