Citibank e-Business has launched a Web-enabled treasury outsourcing solution - Citibank Agency Treasury Services - developed in conjunction with software house Trema.
The bank says the end-to-end solution will enable companies and financial institutions to use integrated treasury management applications to reduce costs while gaining a complete picture of their positions regionally and globally. Users will be able to outsource complete treasury operations or selected specific related functions, such as risk management or regulatory reporting.
Citi is promising straight through processing (STP) of transactions, inputting of deal requests, authorisation of transactions and access to real-time positions on a global basis.
Alex Etherson, European treasurer for US checials group PPG Industries and an established Citibank Agency Treasury Services customer, welcomes the latest developments in the service. He says: "Citibank is designing their outsourcing solution in response to customer requirements and in so doing answering the needs of treasurers. This investment comes at the right time and provides the right tools."