Citi Awarded Purchasing Card Mandate by MTR Corporation
Hong Kong - March 15, 2012 – Citi’s Treasury and Trade Solutions, part of the Global Transaction Services division, announced today it has been appointed to provide Purchasing Card services to the MTR Corporation, Hong Kong’s mass transit railway provider and one of the world’s leading railways for safety, reliability, customer service and cost efficiency.
Citi worked closely with MTR Corporation throughout their Request for Proposal to thoroughly review their existing processes and offer a highly customized solution that meets the company’s specific process and system requirements.
The comprehensive Purchasing Card solution, coupled with an expense management system and merchant acquiring services, provides MTR Corporation with a streamlined procurement and expense management process, enhanced control and greater visibility of key spend categories through Citi’s powerful reports and data.
"Citi is pleased to be awarded MTR Corporation’s Purchasing Card mandate after a competitive bidding process and is excited to partner with them in offering this market leading solution," said Carmen Ling, Head of Global Transaction Services in Hong Kong. "This is an important mandate for Citi and recognition of Citi’s ability to enhance expense management processes through our superior commercial card and management information system MIS capabilities across the region."
Partnering with cities on their urban transformation goals is part of Citi’s broader "Citi for Cities" initiative that harnesses the best of Citi across the globe to enable cities to become more efficient. Citi is working to deliver efficiencies for cities around the world by applying its expertise and new technologies to better facilitate commerce and modernization.
Global Transaction Services, a division of Citi’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 2011, it held on average $365 billion in liability balances and $12.5 trillion in assets under custody.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. 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 | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
About Global Transaction Services Global Transaction Services, a division of Citi’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 95 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the fourth quarter of 2011, it held on average $368 billion in liability balances and $12.5 trillion in assets under custody.
About Citi for Cities Citi for Cities is an initiative that harnesses the best of Citi across the globe to enable cities to become more efficient, by providing financing that facilitates commerce and modernization, and by empowering citizens to access services that enhance liveability and prosperity. Citi aims to help cities achieve their ambitions across the key ecosystems that power a city including administration, roads and transit, ports of entry, energy and utilities, workplace and education, health and safety and regeneration and development. Citi’s span of engagement with cities includes public and private sector, the financial sector and citizens and the communities in which they live.
Additional information may be found at www.citiforcities.com