Kyriba and Openpay Offer Smarter Payments Experience for US Based Clients

SAN DIEGO and MELBOURNE, Australia, Aug. 25, 2021 /PRNewswire/ -- Kyriba, a global leader of cloud-based finance and IT solutions, and Openpay Group Ltd. (ASX: OPY) (Openpay), a global diversified payments fintech Company, announced a strategic partnership to introduce Openpay's OpyPro SaaS solution for B2B payments to Kyriba clients to improve their working capital performance and strengthen customer relationships.

"We are thrilled to join this strategic partnership with Kyriba, a leading innovator in enterprise liquidity management," said Brian Shniderman, CEO of Openpay, US division. "Kyriba's leadership in cash management, payments, and connectivity makes this partnership highly valuable for Kyriba clients and Openpay as we continue to expand the reach of our OpyPro B2B solution into North America."

Coupled with Kyriba's Enterprise Liquidity Management platform and award-winning Working Capital solutions, the OpyPro solution digitizes and automates the onboarding of customers, a critical advantage to optimize new customer acquisition at scale. The self-service buyer and supplier portals reduce manual tasks and administration providing 24/7 access to critical transaction, invoice and statement data. OpyPro improves days sales outstanding (DSO), and reduces fraudulent transactions, reconciliation time and costs.

"Openpay is a payment innovator, offering critical buy now pay later solutions to CFOs and treasury teams to improve their cash conversion cycle and increase revenue growth," said Jean-Luc Robert, chairman and CEO of Kyriba. "Kyriba customers have been searching for new payment solutions like OpyPro that support their digital transformation and eCommerce evolution."

The Kyriba partnership is Openpay's first expansion into the United States, one of the world's largest B2B payments markets. Based on initial client response to the new partnership, Kyriba and Openpay aim to offer OpyPro to Kyriba's more than 2,000 clients world-wide.

About Kyriba Corp.:

Kyriba is a secure, scalable open platform that leverages artificial intelligence, automates payments workflows, and enables thousands of multinational corporations and banks to optimize liquidity, protect against loss from fraud and financial risk, and reduce operational costs. With more than 2,000 clients worldwide, including 25 percent of Fortune 500 and Eurostoxx 50 companies, Kyriba empowers CFOs, Treasurers, and their IT counterparts to transform how they optimize liquidity and manage risk, managing more than 1.3 billion bank transactions per year, and 200 million payments into 140 countries annually. Kyriba is headquartered in San Diego, with offices in Dubai, Frankfurt, London, Minsk, Paris, Shanghai, Singapore, Tokyo, Warsaw and other major locations. For more information, visit www.kyriba.com.

About Openpay

Openpay Group Ltd (ASX: OPY) is a fast-growing and highly differentiated player in the global 'Buy now pay later' (BNPL) payment solutions market. The Company's strong platform enables it to deliver the most flexible plans in the market with durations of 2–24 months and values of up to $20,000.

Openpay focuses on industries where it can make a true difference: Automotive, Healthcare, Home Improvement, Memberships and Education; and its target customers are finance-savvy and of an older demographic who use Openpay plans as a cashflow management tool.

Openpay also has a unique B2B offering, OpyPro (formerly Openpay for Business), a SaaS-based platform that allows companies to manage trade accounts end-to-end, including applications, credit checks, approvals and account management in the one system.

Openpay provides services to Customers and Merchants in Australia, New Zealand, the UK and entered the US market, under the brand name Opy, in December 2020.

See more at www.openpay.com.au.

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SOURCE Openpay Group Ltd.