NEW YORK--(BUSINESS WIRE)--Citi has been included in Global Finance magazine’s “The Innovators 2017” listing for transaction services. This is the publication’s fifth annual listing of global firms that are engendering innovation in treasury and transaction processing. This honor recognizes Citi’s business strategy to deploy the CitiConnect® API across 96 countries allowing Citi’s treasury services clients to directly connect with Citi to access services using their own Treasury Workstations or Enterprise Resource Platform (ERP) providing convenience, potential cost savings, and reduced risk.
Driven by strong client demand, banks are required to offer fully automated solutions to process transactions from the corporate client’s own treasury platform directly to their banking partners. A key aspect is to do this without having to rely on banking portals, proprietary builds, or customized interfaces and applications. With the CitiConnect API, there is no need for additional providers or services, as APIs empower end-users to manage their transaction banking activity directly from their own trusted applications. Clients now have choices of how, where and when they access Citi’s network. Citi has worked with a core group of clients to launch the CitiConnect API service, which they have integrated into their treasury processes to deliver payments real time to Citi, and collect information on the status of their payments.
“New developments in transaction services are giving decision-makers more granular detail at a faster pace, facilitating strategic thinking,” said Joseph D. Giarraputo, publisher and editorial director of Global Finance. “Of course, greater speed and efficiency are valued, but it is business intelligence that delivers the greatest value.”
"Our CitiConnect API provides our clients with a transformational experience by enabling them to directly access our platform, leveraging their own treasury application of choice", said Tapodyuti Bose, Global Head of Channel, Enterprise and Account Services, Citi Treasury and Trade Solutions. “Using this service helps our clients to have their users manage their banking relationship efficiently and effectively through a seamless interface experience directly from their trusted screens”.
The Innovators 2017 list will be published in Global Finance’s June 2017 issue, along with details on selection criteria and an in-depth report on how such innovation is evolving the transaction services landscape.
The CitiConnect API is an extension of CitConnect®, Citi’s industry leading connectivity platform, and is part of the omni-channel electronic banking product suite that also includes CitiDirect BE®, CitiDirect BE® Mobile and CitiDirect BE® Tablet. All payment instruments across the countries supported by Citi through the CitiConnect platform are available.
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 over 90 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.
For a copy of the Global Finance press release, see the link here: http://www.gfmag.com/media/press-releasess/global-finance-names-innovators-2015-transaction-services.
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://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
About Global Finance:
Global Finance, founded in 1987, has a circulation of 50,000 and readers in 192 countries. Global Finance’s audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Its website — GFMag.com — offers analysis and articles that are the heritage of 30 years of experience in international financial markets. Global Finance is headquartered in New York, with offices around the world. Global Finance regularly selects the top performers among banks and other providers of financial services. These awards have become a trusted standard of excellence for the global financial community.