Citi® Supplier Finance Launches with WorldLink® Payment Services
October 21 2019 - 7:00AM
Business Wire
Delivering the Power of the Global Trade and
Payments Networks
Citi’s Treasury and Trade Solutions (TTS) has launched an
enhanced Citi Supplier Finance offering, now with WorldLink®
Payment Services (WorldLink), providing our clients access to the
combined strength of two powerful, industry-recognized platforms.
Leveraging one single point of implementation, this virtual
interface delivers a streamlined setup and the opportunity for
clients to transact across multiple major currencies for
settlement. This solution has launched in the U.S. with plans to
expand globally.
Citi consistently invests in the Supplier Finance platform
technology as a strategic priority to cater to our clients’ needs
and achieve end-to-end digitization. Through the new enhancements
to the Citi Supplier Finance online portal, clients can manage the
dual work streams of supplier financing and foreign currency
conversions at the same time, helping to minimize costs of
implementation and realizing potential resource efficiencies.
Benefits of the new offering include:
- seamless access to WorldLink Payment and FX features
- ability to electronically onboard suppliers
- increased transparency to help manage supplier finance and
foreign payment processes
- access to the new Supplier Finance dashboard providing clients
and their suppliers’ program reporting at a glance
“Now more than ever, institutional clients are faced with
challenges and the complexity of paying their suppliers around the
world while ensuring working capital is effectively utilized,” said
John Ahearn, Global Head of Trade, Citi Treasury and Trade
Solutions. “By providing centralized access to these two digital
solutions, we are able to give our clients a seamless and efficient
process to help manage their supplier finance needs.”
As a global leader in supply chain finance, Citi has more than
17 years of direct experience, supporting tens of thousands of
clients and their suppliers. By extending working capital cycles
and helping reduce suppliers’ foreign exchange exposure along with
creating mutually beneficial early payment opportunities can be a
win-win for clients and their suppliers.
“As institutions increasingly become global and source goods
from suppliers internationally, it is important for banks to
support their clients with comprehensive supply chain finance and
global payments solutions. Citi is a leader in the trade and
payments space, and we are harnessing the synergies and strength of
our WorldLink platform to deliver more choice and increased
efficiency to our clients,” said Manish Kohli, Global Head of
Payments and Receivables, Citi Treasury and Trade Solutions.
WorldLink, Citi’s flagship institutional cross-border payments
solution, provides payment capabilities in 195 countries and over
145 currencies. The WorldLink solution makes global cross-border,
multi-currency payments simple for corporations, financial
institutions and public entities by accessing an extensive payment
and FX network built upon Citi’s on-the-ground branch presence that
provides direct access to approximately 250 local and regional
clearing systems. WorldLink is offered through Citi’s Institutional
Payments and Receivables business, one of the largest movers of
money in the world, facilitating trillions of dollars of flows on a
daily basis through one of the largest proprietary global financial
infrastructures.
Citi Treasury and Trade Solutions (TTS) can help to enable 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 one of the industry's largest proprietary network with banking
licenses in over 90 countries and globally integrated technology
platforms, TTS continues to be a leader in offering one of 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://blog.citigroup.com | Facebook: www.facebook.com/citi
| LinkedIn: www.linkedin.com/company/citi
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version on businesswire.com: https://www.businesswire.com/news/home/20191021005152/en/
Media: Citi: Nina Das Tel: 1-212-816-9267 Email:
nina.das@citi.com
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