Citi’s Treasury and Trade Solutions (TTS) has strengthened supplier finance offerings in partnership with the bank's internal platform WorldLink, allowing clients to transact and settle across multiple major currencies in the US with plans to expand globally.
With continued investment in the digitisation of supply chain finance technology, Citi’s improvements to the online portal will mean that customers will be able to manage both supplier financing and foreign currency conversions in tandem and in turn, minimise implementation costs and realise resource efficiencies.
This will result in access to WorldLink Payment and FX features, the ability to electronically onboard suppliers, increased transparency to help manage supplier finance and foreign payment processes and access to the new Supplier Finance dashboard which provides both clients and their suppliers’ programme reporting at a glance.
Citi explains that extending working capital cycles and reducing suppliers’ foreign exchange exposure is mutually beneficial.
John Ahearn, global head of trade at Citi Treasury and Trade Solutions, highlights that institutional clients are increasingly having to contend with challenges involved with the complexity of paying suppliers around the world, while at the same time, ensuring that working capital is effectively utilised.
“By providing centralised 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,” Ahearn says.
Manish Kohli, global head of payments and receivables at Citi Treasury and Trade Solutions, adds that as institutions becomes increasingly global and suppliers, international, “it is important for banks to support their clients with comprehensive supply chain finance and global payments solutions.”