Kyriba Corp., the global leader in cloud treasury management solutions, today announced its client, Spotify, the world’s most leading streaming service, has won the 2016 EuroFinance Award for Treasury Excellence for its innovative, strategic and FinTech focused approach to corporate treasury.

The Swedish-born music service - which is available in 60 markets across the globe, serves over 100 million active users monthly, of which more than 40 million are paying subscribers - taps partnering with the right bank and treasury technology to enable its internal teams to maximize collaboration and grow the company. Spotify leverages Kyriba’s core cash, payments and financial transactions functionality to enhance its centralized treasury operations.

Johan Bergqvist, head of corporate development and treasury at Spotify, said, “It’s an honour to be recognized by EuroFinance for treasury excellence, as our goal was to create a world class treasury to support short and long term business expansion. As a small team, we needed a secure, robust and scalable solution that integrated well with our systems, and found that among other technology partners, Kyriba was aligned to support our needs.”

Jean-Luc Robert, chairman and CEO at Kyriba, said, “Spotify’s vision for leveraging technology to improve bank connectivity, streamline treasury, and enable greater strategic process is remarkable. We congratulate Bergqvist and his team at Spotify who join a distinguished list of EuroFinance award winners.”

Spotify and Kyriba will attend this year’s #EuroFinance event in Vienna