Kyriba, a global leader in liquidity performance and treasury management solutions, has announced a strategic partnership with Riyadh Air, the premium international airline owned by Saudi Arabia’s Public Investment Fund (PIF). This collaboration aims to automate and streamline Riyadh Air’s treasury processes, equipping the airline with cutting-edge financial tools to support its ambitious growth in the aviation sector.
Through Kyriba’s advanced Software-as-a-Service (SaaS) treasury management platform, Riyadh Air will leverage state-of-the-art technologies such as artificial intelligence (AI), machine learning (ML), and API integrations. These capabilities will provide Riyadh Air with enhanced control over financial operations, improved cash visibility, and robust financial forecasting. Additionally, the partnership will strengthen the airline’s relationships with banking partners and enable data-driven decision-making, ensuring operational excellence as Riyadh Air expands to meet the demands of both Saudi and global markets.
Pioneering Treasury Automation in Aviation
Kyriba’s comprehensive automation tools are designed to optimize complex financial processes at scale. By integrating these solutions, Riyadh Air will reduce reliance on manual tasks, streamline operations, and achieve greater efficiency. The AI-driven platform also ensures seamless integration with Riyadh Air’s ecosystem, utilizing embedded bank connectivity and real-time API insights for improved financial oversight.
This collaboration underscores Kyriba’s ability to serve large-scale organizations and solidifies its position as a leader in treasury and finance automation. By setting a new industry standard, the partnership encourages other organizations to adopt transformative financial technologies.
Leadership Remarks on the Partnership
Amer Chebaro, Sales Leader for Central Europe, the Middle East, and Africa (CEMEA) at Kyriba, expressed excitement about the partnership:
“We are thrilled to partner with Riyadh Air, a visionary leader in the Middle Eastern aviation industry. This collaboration showcases Kyriba’s strength in delivering scalable solutions tailored to the needs of high-growth organizations. Together, we’re redefining treasury management standards in aviation and enabling Riyadh Air to achieve its ambitious goals.”
Daniel Tromans, Group Treasurer at Riyadh Air, highlighted the importance of the initiative:
“As Riyadh Air continues to grow and redefine the aviation landscape, automating our treasury management processes is a critical step. Kyriba’s advanced technology and expertise in financial automation empower us to enhance operational efficiency and deliver on our vision of global aviation leadership.”
Driving Innovation and Operational Excellence
As Riyadh Air pursues its expansion strategy, Kyriba’s technology provides the airline with the resilience and flexibility required for large-scale financial operations. The integration of Kyriba’s platform into Riyadh Air’s systems will ensure seamless, real-time connectivity with banking networks and support its broader ecosystem. This partnership is a testament to both organizations’ commitment to innovation and excellence in the aviation industry.
About Kyriba Corp.
Kyriba is a global leader in liquidity performance that empowers CFOs, Treasurers and IT leaders to connect, protect, forecast and optimize their liquidity. As a secure and scalable SaaS solution, Kyriba brings intelligence and financial automation that enables companies and banks of all sizes to improve their financial performance and increase operational efficiency. Kyriba’s real-time data and AI-empowered tools empower its close to 3,000 customers worldwide to quantify exposures, project cash and liquidity, and take action to protect balance sheets, income statements and cash flows. Kyriba manages more than 3 billion bank transactions and $15 trillion in payments annually and gives customers complete visibility and actionability, so they can optimize and fully harness liquidity across the enterprise and outperform their business strategy.
About Riyadh Air
Riyadh Air, a PIF company, is a world-class airline. Launched in March 2023, the airline will be a digitally led, full-service airline that adopts the best global sustainability and safety practices across its advanced fleet of aircraft. Riyadh Air will equip its aircraft with the most advanced, state-of-the-art features with innovative, best-in-class cabin interiors and experiences, including next generation digital in-flight entertainment systems and connectivity solutions. Riyadh Air will connect guests to over 100 destinations around the world by 2030 through offering an exceptional guest experience with an authentic, warm Saudi hospitality at its heart.