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Innovation around the World

Spain

CitiDirect Spain Offers Electronic Collections

The challenge:
Clients in Spain wanted to initiate direct-debit transactions and electronic receivables in multiple local file formats.

The innovation:
Citi produced a new release of CitiDirect which includes file import capabilities of local file formats AEB19 (B2C direct debits) and AEB58 (B2B electronic recibos). This benefits our customers as CitiDirect can now be used to initiate all available electronic transactions in the Spanish market, both payments and collections. The new capability is a major step towards packaging our domestic capabilities in Spain and represents another step forward in the migration from paper to electronic payables/receivables.

The result:
This new functionality will allow our customers to initiate electronic receivables in specific local file formats, thus expanding our domestic capability footprint.