BNP PARIBAS and Kyriba announce the introduction of a joint payment management service for the corporate market

PARIS, September 26, 2005 / PRNewswire / -- BNP PARIBAS, the leading Euro zone bank in terms of profits and market capitalization, and Kyriba, the market leader in web based on demand cash management and treasury solutions, have announced the introduction of a joint payment management service.

The integration of the Kyriba ASP platform payment module into BNP PARIBAS' ETEBAC 5 MULTIVIR offering enables corporate clients of BNP PARIBAS and Kyriba to optimize and secure their processing chain for domestic and international payments from bank accounts held with BNP PARIBAS.

Supplier payments generated by corporate clients' accounting applications or entered manually into the Kyriba ASP platform payments module are automatically converted to SWIFT MT101 format and then routed through the Kyriba Connectivity Hub. Within this component of the Kyriba ASP platform, authorized users sign the remittance files simply using an Internet browser and the Etebac 5 protocol before transferring them to the BNP PARIBAS telematics server.
This routes them to the bank’s processing systems for execution and sends the platform an acknowledgement that can be handled by users.

Furthermore, BNP PARIBAS’ ETEBAC 5 MULTIVIR offering allows for debit orders to be issued:
- in any country
- at any bank
- in any currency
All without having to think about the plethora of local financial exchange standards specific to the countries to be debited.

The transmission of the payment files by the Kyriba Hub automatically generates a global cash forecast in the Kyriba ASP platform cash module. The next day, this forecast is compared with the actual banking situation issued by BNP PARIBAS to the Kyriba ASP Platform in the form of Account Statement files.

Florence Robinet-Nemec, Cash Management Marketing and Development Manager at BNP Paribas, says, “Collaborating with Kyriba enables us to provide our ETEBAC 5 MULTIVIR file exchange offering in ASP mode. It was our desire to simplify bank exchanges with our clients that led us to work with Kyriba.”

“We are delighted with this cooperation as it allows us to enhance our Cash Management ASP solution. The integration of our ASP Platform into BNP PARIBAS’ payment management services enables our mutual clients to optimise their payment processing chain,” says Jean-Luc Robert, CEO of Kyriba.

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