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Citi adds real-time financing to Treasury offerings
Citi introduced Real-Time Funding (RTF), part of its real-time treasury solutions for corporate clients.
“Citi RTF enables the automated movement of funds between international accounts based on predefined rules set by the customer, helping them ensure that money is available when and where it is needed,” the company said in a press release on Monday (June 10 ).
RTF benefits include instant, automated cross-company account funding, 24/7; reduced need for account reserves, pre-financing and loans; and the timely and automated release of domestic and cross-border payments, according to the release.
“With the introduction of Citi RTF, Citi continues to provide best-in-class real-time treasury solutions to help our clients remain competitive and agile,” he said Stephen Randall, global head of liquidity management services at Citi Services, in the statement. “With the proliferation of instant payments and evolving business models, treasuries must be able to support rapidly growing cash flows 24/7.”
In today’s complex financial and regulatory environment, treasurers strive to improve data and technology strategies, according to the PYMNTS Intelligence report.The Treasury Management Handbook: Technological Strategies and Best Practices.” However, improvements don’t always require massive investments or rebuilding a technology stack from scratch.
“Treasury teams that may be behind the curve today may [improve] implementing several relatively low-cost, low-effort upgrades,” the report said. “This includes automatic daily reconciliation across all bank accounts and data visualization tools that leverage existing treasury and enterprise-wide datasets.”
Elsewhere in the treasury management world, PYMNTS has explored the challenges and complexities of cash management in an interview this month with Noam MillsCEO of Panax.
“Cash flow can be a blind spot for the finance team,” said Mills, explaining that traditional cash flow management can often rely on manual processes and reactive measures.
But with the advent of artificial intelligence, modern solutions using this technology are playing a role in automating and streamlining financial processes for complex treasury organizations.
“The key word here is complexity,” Mills told PYMNTS. “And complexity can arise from many different sources, be it the structure of the holding company or the nature of the business.”
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