CITI SOFTWARE SOLUTION STREAMLINES ERP-TO-BANK INTEGRATION

The Citi® File Xchange ERP Integrator maps payment files in ISO 20022 XML format

Amsterdam, New York - October 26, 2010 – Citi announced today the launch of a software solution from its Global Transaction Services business that simplifies ERP-to-bank integration for users of its Citi® File Xchange (CFX) host-to-host file transfer and translation service. The new CFX ERP Integrator offers organizations a solution for extracting payment details from their ERP databases using a pre-configured template based on ISO 20022 XML market standards significantly reducing the time involved in the implementation process while leveraging existing ERP capabilities at no extra cost.

Once loaded onto an ERP system, the CFX ERP Integrator’s template comprehensively populates payment files for straight through processing by Citi and without impacting a company’s existing invoice or payment processes. The CFX ERP Integrator easily adapts to ERP customizations and eliminates the need for custom file mapping, significantly streamlining the payment file setup process.

"For many organizations establishing ERP connectivity with their banks can be a challenging process. Extracting all the required data elements for individual payment instructions can consume a lot of time and effort on the part of treasury and technology staff," notes Michael Knorr, Head of Capabilities Architecture and Connectivity Services. "On the other hand, with the CFX ERP Integrator, companies can significantly shorten their implementation timeframes and meet - even exceed - the most aggressive go-live deadlines. What’s more, the CFX ERP leverages existing ERP capabilities to extract payment files, so there are no extra ERP system-related costs or investments."

The CFX ERP Integrator supports most payment types across more than 90 countries and ensures that all payment details, including local clearing rules, are straight through processed by Citi within its global footprint.

The CFX ERP Integrator is already live with Japan Tobacco International (JTI), whose operations span 120 countries. JTI recently became the first company to use the CFX ERP Integrator as part of its efforts to streamline and centralize its bank interfaces and payment activities using SWIFTNet.

"Citi’s solution enabled JTI to reduce the implementation time and IT development efforts while insuring adherence to a globally recognized payment format meeting ISO 20022 XML requirements," said Dmitry Bespalov, Treasury Manager in charge of Global Cash Management at JTI.

For additional information about Citi File Xchange and CFX ERP Integrator, visit: http://www.transactionservices.citi.com

Global Transaction Services, a division of Citigroup’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the third quarter of 2010, it held on average $340 billion in liability balances and $12.4 trillion in assets under custody.

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About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.