Citi’s Global Concentration Engine Expands to Over 50 Markets
October 25 2016 - 9:00AM
Business Wire
Enhanced liquidity management services
deliver end-to-end client solutions.
Citi’s Treasury and Trade Solutions’ Global Concentration Engine
(GCE) has reached a significant milestone with more than 50
countries/territories now live on its global liquidity network. The
latest additions include locations in Latin America, Europe and the
Middle East. “We are very pleased to reach this significant
milestone of our liquidity solution capabilities. It reflects our
continued focus to deliver the strength of Citi’s global network to
our client base, offering them efficient liquidity management
capabilities,” said Mark Smith, Global Head of Liquidity Management
Services at Citi’s Treasury and Trade Solutions. “We see usage of
global liquidity structures continuing to grow as companies
centralize their treasury management while adapting to changing
regulations and tax considerations.”
The GCE platform provides clients with automated cash
concentration services which can be used to consolidate their
end-of-day balances and eliminate inefficient residual cash that
would be left in their banking network. Often treasuries use
partner bank solutions to simulate global access but such
arrangements are subject to interbank cutoff times. With Citi’s
GCE, this end-of-day funds movement within Citi’s proprietary
network can result in more efficient working capital management for
clients. Similarly, the automated nature of the service allows
treasuries to re-focus resources on strategic activities and also
reduces risks associated with manual tracking and reconciliation
processes.
Other enhancements to the GCE platform include intraday sweeps
as well as several user-defined controls to assist clients in
automating their accounting and reconciliation processes.
“When we expand our conventional cash concentration process
outside of the developed markets, it is a challenge for our clients
to navigate regulatory controls and reporting requirements which
are quite common,” notes Michael Berkowitz, Global Product and
North America Head of Liquidity Management Services at Citi’s
Treasury and Trade Solutions. “However, these very same emerging
markets are often the source of higher rates of growth for our
clients. Hence, we look to build innovative solutions for these
markets with controls that assist our clients in complying with the
associated local requirements.”
Another key liquidity management enhancement is also available
in the new premium version of TreasuryVision® Liquidity Manager, an
integrated cash positioning tool available on CitiDirect BE®,
Citi’s online banking platform. Specifically mapped to a user’s
cash pooling structure, clients now have visibility over intraday
cash balances and opening balances, providing a global view of
operating cash that can help identify opportunities to streamline
reconciliations, actively invest and manage exposures.
Citi Treasury and Trade Solutions (TTS) enables our clients'
success by providing an integrated suite of innovative and tailored
cash management and trade finance services to multinational
corporations, financial institutions and public sector
organizations across the globe. Based on the foundation of the
industry's largest proprietary network with banking licenses in 97
countries and globally integrated technology platforms, TTS
continues to lead the way in offering the industry's most
comprehensive range of digitally enabled treasury, trade and
liquidity management solutions.
About Citi:
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments
and institutions with a broad range of financial products and
services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services and
wealth management.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn:
www.linkedin.com/company/citi
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version on businesswire.com: http://www.businesswire.com/news/home/20161025005114/en/
MediaCitiNina Das,
212-816-9267nina.das@citi.com
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