FINANCIAL-I RECOGNIZES CITI® COMMERCIAL CARDS AS A LEADER IN INNOVATION FOR CITIBANK® PAYLINK FOR CARDS
New York - Dec. 30 – Citi announced today that Citibank® Paylink for Cards has been named "Best and Most Innovative Corporate Card Solution" by Financial-i magazine’s annual Leaders in Innovation Awards.
Citibank® Paylink for Cards is an end-to-end electronic payment solution for corporations, financial institutions and public sector clients that adds the capabilities and benefits of a purchasing card to the control and consistency of a traditional electronic payment process. Developed by Citi’s Global Transaction Services, Citibank Paylink for Cards integrates a purchasing card into a client’s accounts payable system to give it the ability to streamline its vendor payments. The solution seamlessly passes information to all necessary parties - from settlement through reconciliation - without requiring any manual handling. Buyers and suppliers are therefore connected more efficiently and securely than ever before.
"We are honored that Financial-i has recognized our innovative solution" said Rick Hanna, Global Head of Commercial Cards. "Citi is committed to providing solutions that offer greater control, visibility and optimization to help our clients maximize their efficiencies and expand their opportunities."
Financial-I’s Leaders in Innovation Awards recognize vendors who are shaping the delivery of business solutions in the wholesale transaction banking space. After compiling a shortlist for each category, the editorial teams sought input from leading industry consultants and analysts, including TowerGroup, Celent and Aite.
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, Citi’s Global Transaction Services supports over 65,000 clients. As of the 3rd quarter of 2008, it held on average $273 billion in liability balances and $11.9 trillion in assets under custody.
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing 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, and wealth management. Citi’s major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.
Financial-i focuses on how technology is being leveraged to provide business solutions in wholesale transaction banking. Solutions that solve common business issues around the execution, delivery, clearing and settlement of transactions in the wholesale banking space, enhance the provision of value added services to customers, increase the speed of delivery of information, mitigate risk and maintain competitiveness. Financial-i editorial covers Treasury & FX; Securities Services; Network Services; Data and Risk Management; and Market Infrastructure. For more information visit: http://www.financial-i.com