{"id":28042,"date":"2021-05-19T17:44:47","date_gmt":"2021-05-19T17:44:47","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/?p=28042"},"modified":"2021-05-19T15:37:57","modified_gmt":"2021-05-19T15:37:57","slug":"churpy-launches-aggregated-financial-data-api-to-help-businesses","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/churpy-launches-aggregated-financial-data-api-to-help-businesses","title":{"rendered":"Churpy Launches Aggregated Financial Data API to Help Businesses"},"content":{"rendered":"

Africa-Press<\/a> – Kenya<\/a>. <\/strong><\/span>Churpy, founded by John Juma (formerly at Citibank) and Kennedy Mukuna (formerly at World Bank), has today officially launched a product to resolve the non-scalable and clunky payment operations which is currently a major challenge for most medium to large businesses.<\/p>\n

Research by Citi shows that over 93 percent of businesses experience delayed payments from their customers, with a further 80% reporting \u201cpartial payments\u201d as being the primary challenge for optimizing their receivable accounts.<\/p>\n

This process is costly with businesses spending an average of $16 (Ksh 1,720) for each processed invoice, according to research by American Express.<\/p>\n

Having connected with some of the largest commercial banks in Kenya via APIs, we securely pull transactional statements data and reconcile these against pending invoices from various ERPs.<\/p>\n

Soon, Churpy\u2019s AI-enabled SaaS product will empower businesses to automatically reconcile their books, monitor all their bank account balance positions, process payments and allow their customers to view and pay pending invoices directly through our platform.<\/p>\n

Additionally, businesses will optimize working capital by reducing days-sales outstanding and save costs by automating manual steps involved in payment operations such as downloading bank statements, data file preparations, reconciliation, payables and exception handling.<\/p>\n

On the issue of payment operation setbacks experienced by numerous entities, Churpy CEO, John, highlighted that, \u201cIt typically takes 4 or more receivables accountants to fully reconcile 100 invoices daily with just one dedicated collection bank account, making it hectic, non-scalable and clunky\u2026Churpy is changing this experience to be smoother, scalable and simpler, just to name a few value additions on the customer journey.\u201d<\/p>\n

Churpy\u2019s product is a cloud-hosted engine empowering finance teams and developers to effectively manage their finance operations. It is developer-friendly, easy to use with well documented APIs, simplifying integrations with multiple large banks and major ERP platforms.<\/p>\n

About Churpy<\/b><\/p>\n

Churpy is a Fintech enterprise Software-as-a-Service (SaaS) company, backed by pre-seed investment from Antler East Africa VC and currently in working partnership with large banks and businesses.<\/p>\n

It exists to make payment operations for businesses simple, secure and scalable using cutting edge AI.<\/p>\n

To learn more, please visit www.churpy.co<\/p>\n

Contacts<\/b><\/p>\n

Please contact Kennedy (kennedy.mukuna@churpy.co) or John (john.kiptum@churpy.co) Linkedin | https:\/\/www.linkedin.com\/company\/churpy<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. Churpy, founded by John Juma (formerly at Citibank) and Kennedy Mukuna (formerly at World Bank), has today officially launched a product to resolve the non-scalable and clunky payment operations which is currently a major challenge for most medium to large businesses. Research by Citi shows that over 93 percent of businesses experience […]<\/p>\n","protected":false},"author":84,"featured_media":28041,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6857,7003,544],"class_list":["post-28042","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nChurpy Launches Aggregated Financial Data API to Help Businesses - kenya<\/title>\n<meta name=\"description\" content=\"Churpy, founded by John Juma (formerly at Citibank) and Kennedy Mukuna (formerly at World Bank), has today officially la ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/churpy-launches-aggregated-financial-data-api-to-help-businesses\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Churpy Launches Aggregated Financial Data API to Help Businesses\" \/>\n<meta property=\"og:description\" content=\"Churpy, founded by John Juma (formerly at Citibank) and Kennedy Mukuna (formerly at World Bank), has today officially la ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/churpy-launches-aggregated-financial-data-api-to-help-businesses\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-19T17:44:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/05\/img-60a530c18aa74.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"360\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/churpy-launches-aggregated-financial-data-api-to-help-businesses#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/churpy-launches-aggregated-financial-data-api-to-help-businesses\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Churpy Launches Aggregated Financial Data API to Help Businesses\",\"datePublished\":\"2021-05-19T17:44:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/churpy-launches-aggregated-financial-data-api-to-help-businesses\"},\"wordCount\":379,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/churpy-launches-aggregated-financial-data-api-to-help-businesses#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/05\/img-60a530c18aa74.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/churpy-launches-aggregated-financial-data-api-to-help-businesses#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/churpy-launches-aggregated-financial-data-api-to-help-businesses\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/churpy-launches-aggregated-financial-data-api-to-help-businesses\",\"name\":\"Churpy Launches Aggregated Financial Data API to Help Businesses - 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