Citi’s Global Transaction Services (GTS) has been named the primary cash management bank for Dialog Telekom, a subsidiary of Axiata Group Berhad (formerly known as TM International) and the largest mobile telecommunications operator in Sri Lanka. Citi will provide a suite of customised solutions to enhance the existing payments and receivables processes.
Citi will provide Dialog with a centralised payments and receivables ‘single window’ solution to cater for its diverse vendor requirements. For both its local and international payments and receivables, Citi will also provide Dialog an automated reconciliation application to capture information for enhanced client operational efficiency and data enrichment.
By centralising local and international payments and receivables and automating reconciliations, Dialog will receive numerous benefits. First, Dialog will realise benefits in processing sales proceeds and greater control and visibility over its cash cycle. Additionally, by adopting Citi’s fully-integrated automated reconciliation solution, Dialog will require less resources for reconciliation processes, freeing up staff to focus on value-added services within the company.
Vipula Gunatilleka, group chief financial officer (CFO) at Dialog Telekom, said: “We are pleased that in obtaining this solution, we have been able to significantly improve our operational efficiencies and obtain visibility to our cash flows within the parameters of our processes and requirements. This has only been possible through the strong and collaborative relationship we have built with Citi. Citi has truly been a partner to Dialog by providing an innovative and customised solution.”
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
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more