Citi Launches CitiDirect BE® Cash Concentration
Innovative solution offers online self-management of cash structures to clients
London - Citi has announced the launch of its new global liquidity solution, CitiDirect BE® Cash Concentration, which allows clients to digitally manage their cash pooling structures through Citi’s online treasury management tool.
Citi is one of the first global transaction banks to offer this innovation, which allows clients to modify their cash concentration structures within minutes. Clients will have the option to update parameters such as transfer pricing, inter-account lending limits, SWIFT message transaction descriptions and to delete accounts. In addition, clients will be able to respond faster to changing market conditions and have an online view of their cash concentration structures.
Brandon Walker, Treasury Manager of Yum! Brands, Inc. commented: “Citi’s digital cash concentration tool is both intuitive and rich with functionality. It gives us access to all the information and options available in the cash concentration solution, all in one system and in a very simple and clear way.”
Mark Smith, Global Head of Liquidity Management Services, Treasury and Trade Solutions, Citi, commented, “The launch of this solution further builds upon Citi’s long commitment to creating innovative tools to provide for our clients’ financial needs. The intuitive portal will provide transparency as well as giving clients’ direct control over their liquidity structures. Treasurers can now make more informed and faster funding decisions around the globe.”