Citi Launches Payments Risk Management Tool

Citi Treasury and Trade Solutions (TTS) has launched of Citi Payments Risk Manager, described by the group as “new functionality (that) gives clients enhanced visibility and control over their payment flows by providing aggregated payments data, reporting and trend detection capabilities to facilitate the clients’ investigation of potential outlier transactions”.

The new account payables (AP) risk management solution is available through the CitiDirect BESM platform. It aggregates payments data across countries, currencies, payment methods and beneficiaries to derive the client’s normal patterns of payment activity and highlight transactions that fall outside of those trends. The data collected is presented in a user-friendly, configurable dashboard accessible from the CitiDirect BE portal.

In addition to the dashboard, the solution provides a convenient drilldown data view and customisable reports, allowing the user to interact with their data easily and efficiently.

“In today’s business environment, corporations with large, multinational transaction flows, particularly those with shared service centers or business process outsourcing (BPO) units, need improved visibility into their AP processes in order to effectively mitigate risk,” said Ebru Pakcan, global head of payments and receivables at Citi.

“Citi Payments Risk Manager is the ideal solution for clients looking for efficient payment trend and outlier detection capabilities.”

The solution was first piloted in India, followed by a launch in select Asian countries and North America with plans to expand globally.


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