Citi’s Treasury and Trade Solutions unit has launched Citi Integrated Payables Solutions, a holistic suite of analytics, advisory and payment services that are designed to assist organisations in optimising working capital and maximising efficiency across their complete supply chain.
The offering brings clients a holistic solution package that encompasses payment services such as core payments, supply chain finance and commercial cards. Other benefits include proprietary analytics, advisory services, client-to-bank connectivity channels and universal supplier on-boarding mechanisms, all of which are intended to will help to address an organisation’s continuum of suppliers.
The Bank says that, through using the service, clients are expected to be able to influence working capital, reduce total costs, minimise supply chain risk, and support their suppliers.
The new product suite is supported by Citi Working Capital Analytics, a program that uses proprietary algorithms and rules to analyse a client’s financial supply chain and produce multi-product recommendations on available opportunities. Findings can then be presented using Citi Interactive Solutions, which allows clients to explore recommendations and perform scenario modelling in real-time.
The growing movement against the use of cash promises higher-performance economies, better expense tracking, and enhanced repressive capacities against theft, crime, money laundering and tax evasion. But increasing numbers of voices, in the freedom movements as well as in the social justice circles, raise awareness over the social damage which the upgrade could yield.
The most interesting outcomes of PSD2 will be derived from companies combining open banking with data from other areas like social media or government, argued Miles Cheetham, Open Banking Ltd.
There are various ways for financial institutions to benefit from advanced technologies and business models provided by FinTech's. Whether a business' approach is radical or incremental, data management can help a company to increase their return on investment, argues André Casterman, INTIX.
Tim de Knegt, strategic finance and treasury manager for the Port of Rotterdam, discusses how he is using blockchain, the challenges he will face in his role of treasury over the next 12 months and the advice he would give to someone starting out their career in treasury.