In response to rising fraud risks and accelerating financial flows, finance departments are seeking to reconcile speed of execution with enhanced controls. It is in this context that Kyriba, a liquidity management specialist, has announced a strategic collaboration with Eftsure, a recognised player in payment fraud prevention.
The aim of this partnership is to further secure payment processes by intervening earlier in the cycle, even before funds are executed.
A critical challenge for finance teams
Treasury teams now operate in a high-pressure environment. They must simultaneously:
- optimise liquidity,
- improve forecast accuracy,
- accelerate payments internationally.
At the same time, threats are multiplying. Fraud involving supplier impersonation, bank account redirection or business email compromise (BEC) attacks is growing significantly. According to the FBI Internet Crime Complaint Center, these attacks have generated more than $55 billion in losses worldwide over the past decade.
Securing payments upstream: a paradigm shift
The collaboration between Kyriba and Eftsure is based on a complementary approach:
- Kyriba provides its liquidity management and payment orchestration platform, connected to banks and ERPs
- Eftsure intervenes upstream by independently verifying supplier information and bank account details
This combination enables enhanced controls to be integrated from the payment preparation stage, thereby reducing the risk of fraud or error even before execution.
Combining speed, control and trust
One of the key challenges for finance departments is to avoid slowing down operations while strengthening security. By integrating verification mechanisms directly into workflows, this collaboration aims to provide a balance between:
- operational efficiency,
- financial governance,
- risk reduction.
For treasurers and CFOs, this provides greater assurance that funds are sent to the right recipient, without making processes more complex.
An underlying trend in the finance function
Beyond this partnership, this initiative illustrates a broader shift: the growing importance of preventive controls integrated directly into financial tools.
Rather than detecting fraud after the fact, organisations are now seeking to prevent it upstream, at the very heart of their processes. A transformation made necessary by the digitalisation of payments and the increasing interconnectedness of financial systems.
source: Kyriba
