Enabling Better Decisions
Reliance on spreadsheets, along with the use of bank portals for treasury management, no longer provide protection against sophisticated social engineering scams that target treasury.
As such, treasury not only needs better protection for payment workflows and treasury processes but also the assurance that the correct controls are in place and that they have proper documentation to assess the effectiveness of those controls.
To improve controls and combat fraud and cybercrime, it is necessary that, as a minimum, treasury has:
- Standardised workflows
- Multi-factor authentication
- Eliminated email and manual steps for workflow approval
- Full separation of duties to reduce the propensity for internal fraud
- Central control centres for real-time monitoring
- Encryption of data in transit and at rest
- Treasury-wide audit trails
Kyriba delivers these features and more so that your organisation’s treasury processes align with information security policies, ensuring maximum protection against mistakes and fraud attempts. Anything less is subjecting your organisation to unnecessary risk.