Citi innovates Liquidity Optimization product with Real-Time Liquidity Sharing
The innovation was driven by the emergence of remote working, the rapid changes to business models, and the ensuing stress on liquidity.
Citi has launched and rolled out its new global Real-Time Liquidity Sharing solution in six markets across Asia Pacific: Australia, China, Hong Kong, New Zealand, Singapore and Taiwan.
Effective cash management that allows treasury and finance departments to adjust and quickly respond to dynamic business outcomes has become increasingly critical to the survival and future success of companies.
Addressing a pressing need for companies to secure improved efficiencies in liquidity and working capital, the service puts intraday liquidity to use in real-time.
Besides the abovementioned jurisdictions in the APAC region, Citi plans to expand the solution to other regions and additional markets in line with client demand.
The Real-Time Liquidity Sharing solution is part of Citi’s Liquidity Optimization product suite and addresses the needs of treasury teams, who now can mobilize liquidity and fund intraday payments across multiple accounts and entities in real-time, without having to bother with physical funding of the accounts.
Customers will be able to maximize their working capital and eliminate the need for manual funding and forecasting, thereby saving hours of work and reducing the administrative costs associated with external and subsidiary borrowing.
The innovation was driven by the emergence of remote working, the rapid changes to business models, and the ensuing stress on liquidity. It was thus developed in response to client demand for advanced liquidity management technology.
Sandip Patil, Asia Pacific Head of Liquidity Management Services, Treasury and Trade Solutions, Citi, said: “We pride ourselves on our track record of working with clients to assess market conditions and deploy digital advancements to provide targeted solutions.
“With the launch of Citi Real-Time Liquidity Sharing, clients can benefit from real-time funding solutions even in situations where their cash flow forecasting may not go as planned. Beyond treasury automation, our new solution further complements how we are helping clients realize true eCommerce and real-time growth potential, by bringing embedded instant payments and liquidity solutions on a 24×7 basis.”
Stephen Randall, Global Head of Liquidity Management Services, Treasury and Trade Solutions, Citi, said: “The rapid development of this latest addition to our Liquidity Optimization product suite is testament to our focus on investing in digital innovations that will support clients evolving needs in a post-pandemic world. During a time of unexpected change and with the rapid acceleration of new technology adoption, we are proud to serve as a trusted advisor and partner to our clients and their treasury needs.”
Citi’s Liquidity Management network supports more than 30,000 regional and global liquidity structures for clients. Citi was named the World’s Best Bank for Liquidity Management by Global Finance Magazine for the second year in a row.
Real-Time Liquidity Sharing solution is a product developed by Citi Treasury and Trade Solutions (TTS), a subsidiary that offers 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. Citi has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions.
