Key Takeaways
Integrating banking and payment solutions with a client’s ERP system can be complex, time-consuming and costly.
Scotiabank’s Connectivity Services solution provides ‘plug-and-play’ connectivity for faster time-to-value.
Clients benefit from simplified onboarding, faster timelines and reduced integration costs.
Many corporate and commercial businesses conduct business in an increasingly competitive and dynamic financial and payments ecosystem.
Solving for the hurdles posed by the often cumbersome and time-intensive process of Enterprise Resource Planning (ERP) integration is one area where Scotiabank is surfacing new ideas and solutions, most recently with the launch of Scotiabank Connectivity Services.
The challenge: Reducing ERP integration headaches
Clients often have to deal with a long and difficult process integrating their bank reporting and payments systems into their digital workflows.
Connectivity to ERP platforms has traditionally been a complex time- and cost-intensive process. Whether clients are using SAP, Oracle, NetSuite, or Microsoft Dynamics as their ERP solution, there’s one common thread: integrations can be a headache and put time-to-value at risk.
Our solution: Plug and play with Scotiabank’s new Connectivity Services
Effective ERP integration is a key driver in transforming treasury from a cost center into a value driver, helping clients become more agile with their Treasury and Cash Management Operations, reducing risk, lowering costs and enhancing outcomes.
“We’ve heard our clients and have solved for the complexity of ERP integration by launching Scotiabank Connectivity Services, which helps our clients simply “plug-and-play” so they can optimize their treasury and cash management operations,” said Mike Suppa, Head of Digital Payment Solutions & Partnerships, Scotiabank. “Clients can now embed Scotiabank directly into their ERP environment to access bank reports, payments initiation and transaction data without leaving their operating environment.”
In its journey to find thoughtful solutions to client problems, Scotiabank partnered with Kyriba to bring this important solution to market. Kyriba is a market leader in providing market connectivity as a service on a global scale. With its global footprint and reach, Kyriba currently offers the broadest and deepest coverage of ERP integrations in the world while helping CFOs connect, protect, optimize and secure their liquidity.
Enhanced connectivity and data processing power
- Snapshot of Scotiabank Connectivity Services, powered by Kyriba
- All three SWIFT solutions available alongside an inventory of 50 bank APIs
- 250+ banks directly connected
- 3 billion bank transactions annually
- $15 trillion payments annually
- Simple, intuitive, easy-to-use UX
- 24/7 connectivity monitoring
Scotiabank Connectivity Services is powered by trusted partner Kyriba’s BCaaS (Bank Connectivity as a Service), which makes it easy for different client systems to gain fluency and connectivity with Scotiabank’s treasury platform by reducing the friction between bank services and their ERP control centre. This connectivity allows clients to gain an edge and mitigate risk by seamlessly, efficiently, and securely accessing Scotiabank’s global footprint across North America, Latin America and the Caribbean.
With Scotiabank Connectivity Services, clients don’t have to worry about “swivel chairing”, the phenomenon of moving between two different workflows as a workaround. The Connectivity Services solution becomes part of their main enterprise system – that makes all the difference in helping to mitigate risk, enhance security and create scalability and operational efficiencies at every stage of their digital treasury transformation.
“Our Connectivity Services solution is like a digital Rosetta Stone between us and each company’s ERP planning software systems,” said Jamie Hunte, Strategic Partnerships, Kyriba Lead at Scotiabank. “Whether it’s SAP, Oracle, NetSuite, and Microsoft Dynamics, we can more readily ‘talk to’ one another, and that’s what’s key for our clients.”
Helping systems to connect with agility and ease
Scotiabank Connectivity Services adds value at each stage of a client’s treasury transformation, enabling them to reap the benefits immediately, including:
- Better, seamless client experience with end-to-end integration in their own ERP system of choice
- Simplified onboarding – it’s similar to downloading an app
- Accelerated time to market and time to value through an experience that is less resource, cost and time-intensive
The beauty of the Scotiabank Connectivity Services solution is that most of the work is already done for clients. Instead of standing up a dedicated technical team and spending months of time and resources, clients can be onboarded to start customizing and integrating immediately. There’s a single, intuitive user experience and no need to learn a new system from scratch.
Changing the game: A shorter path to stronger outcomes
On average, clients who have leveraged the powerful market connectivity solution at the core of Scotiabank Connectivity Services, have experienced:1
- 80% improvement in the time to connect new banks to ERPs
- 90% productivity improvements
- 47% reduction in idle cash through improved cash visibility
Typically, ERP onboarding and integration can be an onerous process that is both cost and time intensive. The Scotiabank Connectivity Services application can create efficiencies in duration, speed and agility of implementation. For example, Scotiabank clients can get connected to Scotiabank faster, resulting in a potential savings of six months in implementation time, allowing for more efficient use of valuable tech resources.
“The pace of business today demands greater agility from banking relationships,” said Bruno Ferreira, Chief Revenue Officer at Kyriba. “Scotiabank is making this vision of enhanced connectivity with their customers a reality by providing direct ERP connectivity through their Scotiabank Connectivity Services offering, which is seamlessly powered by Kyriba. This will lead to dramatically improved business outcomes, reduced IT costs, and a superior overall banking experience for their customers.”
By the numbers:2
| Before | After Scotiabank Connectivity Services |
| 500-1,000 hours integration time | 50 hours integration time |
| 2 FTEs working for 3-6 months | 1 FTE working for 2 weeks |
Enriching our clients’ digital transformation toolkit
Scotiabank is constantly innovating to make it easier for clients to unlock value across its treasury and cash management platform. As a partner who is fully embedded in clients’ unique processes, Scotiabank is committed to syncing up with partner workflows – whether this is through our Connectivity Services solution, or another set of tools – which always includes a thoughtful mix of human capital and technology.
Scotiabank has honed a robust toolkit to make each stage of treasury transformation seamless and help clients optimize their cash management operations. Seamless ERP integrations are only part of the growing toolkit available to Scotiabank clients, including the Technical Integrations Team, the Treasury and Payment Solutions Team and TranXact APIs. The result: driving more value and impact for clients holistically with agile, scalable and cost-effective solutions.
As a committed partner, Scotiabank is there to thoughtfully and proactively identify pain points and provide tailored counsel over the long term. In doing so, Scotiabank is building a better playbook to foster deeper long-term connectivity with clients. And this journey is only beginning.
Talk to us about how our Connectivity Services can reduce IT costs and help you achieve better business outcomes.
Speak to your Scotiabank sales contact or reach out to Jamie Hunte for additional ideas, insights and solutions for your organization.
Jamie Hunte
Strategic Partnerships, Kyriba Lead, Scotiabank
