21 Oct Citi® Supplier Finance Launches with WorldLink® Payment Services
Delivering the Power of the Global Trade and Payments Networks
NEW YORK–(BUSINESS WIRE)–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.
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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