Strategic partnerships in payments: Putting clients first at the PayCan Summit

At this year’s PayCan Summit, Scotiabank convened a panel featuring leaders from Scotiabank, Kyriba, and the New Brunswick Liquor Corporation (ANBL) to discuss the power of strategic partnerships in transforming payment solutions for corporate clients. The conversation, rooted in real-world collaboration, illuminated how banks, technology providers, and clients can jointly drive efficiency, security, and innovation in the rapidly evolving ERP integration landscape.

Corporate clients across industries are increasingly investing in digital transformation, with a particular focus on optimizing cash management and treasury operations. However, as Lorena Vitores, Chief Operating Officer for Global Transaction Banking at Scotiabank, noted, a persistent pain point is the “complexity of integrations and the frictions in connecting their ERP systems with the bank’s infrastructure.” These processes are often lengthy, costly, and resource-intensive, leading to frustration among clients who seek seamless, scalable solutions.

Rather than each bank or client building custom integrations from scratch, Scotiabank chose to partner with Kyriba, a global leader in cash forecasting, payment optimization, working capital management and liquidity performance, to develop a plug-and-play treasury management solution. This approach leverages Kyriba’s existing connectivity infrastructure, which already supports over 3,000 customers worldwide and connects over 9,900 banks, to streamline the process for Scotiabank’s clients. As Thomas Gavaghan, Kyriba’s Senior Vice President of Product Solution and Strategy, explained, "With an expansive global network connecting banks, ERP systems, trading portals, data services, and payment applications, it’s Kyriba’s seamless connectivity that makes the platform especially impactful for customers and financial institutions alike." By partnering, Scotiabank and Kyriba can offer mutual customers standardized, secure, and easily upgradable integrations, reducing both time-to-market and ongoing maintenance burdens. And the connectivity solution isn’t limited to existing Kyriba customers, but rather allows Scotiabank clients that use various ERPs (SAP S/4HANA, SAP Business Suite, Oracle Financial Cloud, Oracle E-Business Suite, NetSuite and MS Dynamics 365 – Finance & Operations) to easily connect through the Kyriba platform.  

Mehmet Yunli, a Controller at ANBL, provided a client’s perspective on the impact of this partnership. Facing a major ERP upgrade, ANBL sought to overhaul its payment and cash management processes, aiming to increase automation, efficiency, and control. As a Crown Corporation, ANBL is subject to stringent regulatory requirements and international financial reporting standards, making robust controls and segregation of duties paramount.

Previously, ANBL’s payment processes were highly manual, requiring analysts to create payment batches in the ERP system and then re-enter them into Scotiabank’s portal. The new integrated solution, developed through the Scotiabank-Kyriba partnership, automates these workflows. Payments are now generated, reviewed, and transmitted seamlessly from the ERP to the bank, with confirmations and reconciliations flowing back automatically. This not only streamlines operations but also enhances auditability and compliance-external auditors can now verify controls more efficiently, reducing the time and effort spent on sampling and testing.

The panel discussion highlighted several key benefits of this partnership-driven approach:

Seamless Integration: By leveraging Kyriba’s pre-built connectors and Scotiabank’s infrastructure, clients avoid the need for costly, bespoke development. The solution is “ready to go,” enabling faster implementation and smoother upgrades as standards evolve.

Enhanced Security and Compliance: Standardized integrations come with built-in controls, ensuring compliance with regulatory requirements and reducing the risk of errors or fraud. This is especially critical for organizations like ANBL, which operate under heightened scrutiny.

Efficiency and Cost Savings: Automating payment workflows and reconciliation processes reduces manual work, speeds up transaction cycles, and lowers operational costs. Clients can focus resources on strategic initiatives rather than routine administration.

Scalability and Future-Proofing: As business needs change and new technologies emerge, the partnership model allows for continuous evolution. Kyriba and Scotiabank are committed to maintaining and enhancing the solution, ensuring clients remain competitive in a dynamic market.

The issues discussed on this panel reflect broader trends in the ERP integration landscape. As companies migrate to cloud-based ERPs, the demand for standardized, secure, and easily maintainable integrations with banking partners is accelerating. Historically, each integration was a bespoke project, requiring significant IT resources and ongoing support. Today, leading banks and technology providers are collaborating to offer “off-the-shelf” solutions that are adaptable across regions and regulatory environments.

This shift is particularly important as payment formats, security standards, and compliance requirements continue to evolve. By centralizing and standardizing connectivity, banks and technology vendors can rapidly respond to changes, rolling out updates and enhancements to all clients simultaneously, rather than managing dozens or hundreds of custom integrations.

A recurring theme throughout the panel was the importance of truly listening to client needs. As Mehmet described, Scotiabank’s team took the time to understand ANBL’s business processes and regulatory environment before proposing a solution. This client-first approach ensures that technology investments are aligned with real business goals, rather than being driven by technology for its own sake.

Lorena emphasized that this collaborative model marks a significant departure from past practices, where banks might have attempted to develop solutions independently. By engaging with partners like Kyriba and with clients directly, Scotiabank can deliver more relevant, effective, and future-ready solutions.

The PayCan Summit panel made clear that strategic partnerships-rooted in open dialogue, shared expertise, and mutual trust-are essential to putting clients first in the payments industry. By combining the strengths of banks, technology providers, and clients, these collaborations deliver innovative, secure, and efficient solutions that are adaptable to the global market.

As the ERP integration landscape continues to evolve, organizations that embrace this partnership-driven approach will be best positioned to meet the diverse and changing needs of their clients, driving growth, scalability, and long-term success. 

Connect with us today to learn more about how Scotiabank’s innovative partnerships and industry-leading payments solutions can help enhance your businesses treasury operations.