Mando Brand Assurance appoints Citi® Prepaid Services to Provide an Innovative Solution for its clients
LONDON - March 3 – Citi today announced that its Global Transaction Services business for Europe, the Middle East and Africa (EMEA), has won a new mandate from Mando Brand Assurance, a specialist communications and promotion agency of WPP. Headquartered in the United Kingdom, Mando Brand Assurance is a leading promotional risk management company in the UK, operating with clients and brands across Europe, Australia and Canada. Mando Brand Assurance has appointed Citi® Prepaid Services to provide a customised prepaid card solution for TomTom.
Mando selected Citi's Prepaid solution to apply to TomTom because it offers faster payment; increasing customers' recognition of the source of rewards by removing the time lag between purchase and cheque payment; unique branding opportunities through the cards themselves and tied in to Tom Tom's website and other marketing collateral to drive further sales and spend-back of the incentive. All delivered in an investment-free "turnkey" solution.
Rajesh Mehta, Managing Director and Regional Head for Treasury and Trade Solutions for Europe, the Middle East and Africa, Citi, said, "Citi is honoured to provide a comprehensive and innovative Prepaid solution that will provide Mando Brand Assurance with an industry-leading capability for its customers. We are able to supply our clients with innovative solutions which offer them greater flexibility, allowing them to deliver payments with ease. By winning this important mandate, Citi has received a strong vote of recognition from Mando Brand Assurance for our innovative Prepaid solutions and products".
Citi expanded its Prepaid solutions offering to Europe in 2008 following the renaming of Ecount inc., a leading prepaid cards provider in the United States, acquired by Citi in 2007. This further solidified the seamless integration of Citi's world-class payment platform and global brand with Ecount's experience and proprietary prepaid technology. This expansion also provided ideal solutions for global clients that operate across a variety of borders and currencies.
Citi Prepaid Services has revolutionised payments for payroll, consumer rewards, sales incentives and government benefits, transforming paper dependent, inefficient and costly processing into an electronic solution that a number of leading public and private corporations across a variety of industries already rely on. Citi Prepaid's unique solution provides significant cost savings, operational efficiencies, risk mitigation, a robust reporting package, fully customised materials and valuable employee benefits. The innovative platform offered by Citi Prepaid delivers a flexible programme designed to meet an organisations objectives, delivering faster, more efficient and convenient payments to employees.
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 organisations around the world. With a network that spans more than 140 countries, Citi's Global Transaction Services supports over 65,000 clients. As of the 4th quarter of 2008, it held on average $292 billion in liability balances and $10.7 trillion in assets under custody.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, 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, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.
About Citi® Prepaid Services
Citi Prepaid Services (formerly Ecount) is a leading provider of innovative corporate prepaid solutions. Through a consultative approach, Citi Prepaid provides clients with comprehensive electronic payment programs that reduce costs, enhance operational efficiencies and provide an unmatched user experience. Leveraging an extensive payment platform and proprietary prepaid technology, clients around the world depend on Citi Prepaid's custom programs for all types of payments including compensation, promotions and disbursements.