finance of america

Finance of America pt.2

Kyriba Implementation

Finance of America Holdings (FAH) was founded in 2013 by combining 15 businesses focused on loan origination, investing and other lending services–home loans, reverse mortgages, commercial loans, and lender services. There are 300 global offices and 5500 employees. 

Scope of the Project

Elire was engaged for this project as the recommended partner from Kyriba due to extensive experience in Kyriba TMS implementations and also Elire’s knowledge of the mortgage industry. Finance of America also has a significant presence in Minneapolis, the location of Elire’s headquarters (read Elire and Kyriba’s Finance of America Success Story part one here). As a part of the implementation, FAH incorporated manual and automatic payment templates to allow users efficient and effortless payment activities in their daily use. Elire incorporated the user permissions sewn into the Payment template to allow department restrictions based on debitable and creditable accounts. The Elire Team implemented the Kyriba Banking Module, Cash Module, and Bank Account Management to automate FAH’s treasury processes. Kyriba TMS became FAH’s treasury “home” where anything to do with banking and treasury was handled within Kyriba.

Elire was also engaged for a second phase that has the goal of setting up a custom integration from a 3rd party to allow them to send payments via the Kyriba connection.

The Challenge

The Elire team worked through multiple challenges that came along, including delays from banks, and added requests based off of new department applications. Elire stuck to the timeline and achieved go-live by the project deadline.

Success Delivered

The Finance of America team was eager to learn and get the full use of their Kyriba investment. The Elire team taught FAH’s Kyriba Admins and IT department how to use Kyriba, and the Elire team employed a “teach the teacher” training approach to ensuring the Finance of America team understood and utilized Kyriba to its fullest extent. The project was completed in December of 2022.

Interested in learning more about how Elire can assist your Treasury team? Visit our Treasury Services Page or contact our team at [email protected].

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