Citi has launched Citi Virtual Card Accounts, designed to provide institutions with greater security, flexibility and control. The new service generates ‘virtual’ card numbers for transactions, allowing administrators to dynamically set spending and reconciliation controls on each virtual card account.
Citi has partnered with MasterCard to integrate MasterCard’s inControl virtual card platform into the bank’s core commercial cards processing systems to provide a single, consistent virtual card solution to its customers. Citi’s Virtual Card Account solution is available globally, with local currency issuance and settlement in nearly 50 countries.
“This is an extremely innovative service that we can now offer to our clients worldwide. It provides our clients with real-time virtual card capabilities and strong controls over their transactions to help them further safeguard against risk, improve processes, and maximise their working capital,” said Paul Simpson, Citi’s global head of treasury and trade solutions.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
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