Citi’s Global Transaction Services today announced the launch of its integrated enterprise connectivity solution, CitiConnect®. This new connectivity offering provides a wide range of connectivity options to meet clients’ unique business needs and provides greater choice and flexibility for integration with their back end systems
CitiConnect is a service that provides connectivity solutions for both the Treasury & Trade Solutions (TTS) and Securities & Funds Services (SFS) product sets. The solution facilitates SWIFT and industry standard-based integration offerings with customer ERP and Treasury systems to exchange messages and files for all of its cash, trade, card, WorldLink payments and securities products and services. As customers aim to simplify their banking ecosystem this single multi-product connectivity platform enables Citi clients to access all of their GTS services via a single integration point. CitiConnect is a complementary service to Citi’s CitiDirect platform which offers GTS’ services through online and mobile media while CitiConnect offers connectivity via direct connections.
“From Commercial cards to Commercial paper (commercial paper is not a GTS product) clients are looking for seamless integration into their business processes and expect consistent delivery regardless of channel,” said Hubert JP Jolly, Head of Citi’s TTS Channel and Enterprise Services. “CitiConnect has been designed specifically for that purpose and enables us to integrate with our clients quicker.”
“The creation of consistent, client-centric processes across our suite of products and services, is at the heart of how GTS does business. An enterprise wide channel that can bring all of our global GTS capabilities to our clients will make it even easier for them to do business with Citi,” said Atul Dubey, Chief Operating Officer of Citi’s Securities and Funds Services.
Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citigroup’s Global Transaction Services business supports over 65,000 clients. As of the second quarter of 2011, it held on average $365 billion in liability balances and $13.5 trillion in assets under custody.
Citi, the leading global financial services company, 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.
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