Kyriba and BlackRock have announced a strategic partnership which will leverage both firms’ technologies to simplify their client’s cash management. The partnership will help Blackrock simplify the investing process for their clients and broaden the distribution of BlackRock’s cash funds. And Kyriba says that the partnership with Blackrock provides a modern liquidity performance platform that enables Kyriba’s clients to see and the invest their cash.
Our take on the partnership
The alliance is a key partnership for BlackRock as it wants to constantly improve its client interface to help them invest their cash. This partnership will allow BlackRock’s clients to see, and analyze their cash (using Kyriba’s platform) and then invest that cash using their integrated trading platform. In this way the client does not have to leave Kyriba’s platform to log on to a bank website to invest the cash and workflow efficiency is maintained. We are still unsure whether the two firms want to build a new tool, incorporating both of their technologies or integrate Blackrock’s trading platform with Kyriba’s existing software. This decison does make a huge difference in terms of number of customers using the new integrated platform.
About Kyriba
Kyriba is the No.1 cloud platform for treasury and finance, delivering cash management
technology to CFOs, treasurers and finance professionals. It provides a fully virtualized,
multi-tenant SaaS , cloud based platform that provides real time visibility of global cash
positions and portfolio to its clients. Founded in 2003, Kyriba has over 1800 clients based in over 100 countries and has been backed by VCs and banks such as Daher Capital, Iris Capital, BPIFrance, HSBC, etc while its client list include companies like Amazon, BBC worldwide, Spotify, Symantec.
About BlackRock
Blackrock is the world’s largest asset manager with over $6.2 trillion worth of asset under management. It has constantly transformed itself using new technology and developing inhouse tools for better tracking, analysis and management of processes. Blackrock’s Aladdin (Asset Liability and Debt Derivatives Investment Network) is a tool used by Blackrock and other firms as well. Its minority stakes in Fintechs like Future Advisor (developing roboadvisor), iCapital Network, Scalable ( developing robo-advisor solutions) and acquisition of Cachematrix (cash management solutions) speak volumes of how serious is Blackrock about incorporating new tech on its existing platform.
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