Kyriba Implementation for Global Investment Management Firm

Scope of the Project

MFS partnered with Elire to implement Kyriba across its core treasury functions, including bank connectivity, cash visibility and forecasting, payments through the Payments Factory, liquidity planning, cash accounting, financial transactions, and FX. From the outset, the goal was not just to go live, but to deliver a controlled, auditable production rollout with full end-to-end payment coverage across MFS’s banking landscape.

To support this, Elire used a structured, phased delivery approach with formal module sign-offs at each stage. This ensured readiness throughout the implementation and enabled a clean, well-managed transition to Kyriba Support following go-live.

The Challenge

MFS needed to modernize its treasury operations while maintaining strong controls, auditability, and scalability. The work required establishing reliable multi-bank connectivity, implementing a scalable Payments Factory with consistent formatting and approval workflows, and integrating Kyriba with back-office systems such as PeopleSoft. Just as important, MFS needed a phased delivery model with clear sign-off checkpoints to reduce risk and ensure true production readiness.

Success Delivered

Elire delivered a production-ready Kyriba implementation using a phased approach that emphasized validation, transparency, and control at every step. Structured testing and formal sign-offs ensured operational readiness and supported a smooth transition into steady-state treasury operations.

The Payments Factory was configured to support consistent formatting, approval workflows, and execution across MFS’s multi-bank environment. End-to-end testing validated payment scenarios across multiple banking groups:

• Citibank  
• Bank of America  
• Wells Fargo  
• Citizens
• JPMorgan  
• State Street Bank  

“The Elire team brought deep Kyriba Payments Factory expertise and helped us validate end-to-end coverage across our payment scenarios and banks.”
— Scott Chin, VP, Corporate Treasurer at MFS

In parallel, Elire established bank connectivity to enable automated statement ingestion, cash positioning, and downstream accounting. Kyriba was integrated with back-office systems, including PeopleSoft, to maintain accounting and operational continuity. A formal module sign-off framework confirmed production readiness across Admin & Security, Core Data, Bank Statement Connectivity, Cash Management and Forecasting, Liquidity Planning, Cash Accounting, Financial Accounting, FX Position Keeping, and Payments Factory.

Final production signoffs were completed in late 2025, followed by a successful transition to Kyriba Client Support in early 2026. MFS now operates on a stable, scalable Kyriba production foundation that supports standardized payment processing, validated bank connectivity, and long-term treasury operations.

Client Overview

Massachusetts Financial Services Company (MFS) is a global investment manager serving institutional and individual investors worldwide, with a focus on active, long-term investment strategies across a broad range of asset classes.