Citi Named Best Global Treasury and Cash Management Provider by Global Finance Magazine
Wins Eight Additional Awards Recognizing Continued Leadership in Regions and Categories, Including Best Purchasing Card Provider
New York, NY - March 15, 2012 – Global Finance magazine has ranked Citi the number one Treasury and Cash Management provider. For the tenth consecutive year, Citi has ranked as the top global provider in the industry. Citi was also named Best Treasury and Cash Management Provider in Latin America for the fourth consecutive year.
Each year, Global Finance editors – with input from industry analysts, corporate executives and technology experts – select the best providers of treasury and cash management services. A variety of subjective and objective criteria are used for choosing the winners. Factors considered included: profitability, market share and reach, customer service, competitive pricing, product innovation and the extent to which treasury and cash management banks have successfully differentiated themselves from their competitors around core treasury and cash management service provision.
In addition to the Global and Regional win, Citi was also ranked number one in the following categories:
- Best Bank for Liquidity Management – Latin America
- Best Bank for Risk Management – Africa, Asia, Latin America, Middle East
- Best Bank for Payments and Collections – Latin America
- Best Treasury Management Systems & Services Providers – Citi for Best Purchasing Card Program
"The global business environment continues to be challenging so it is important that as we deliver new solutions, we ensure that what we’re delivering is strategically relevant to our clients’ business priorities and operating models, while also ensuring our existing platforms remain world class and meet the daily needs of our clients," said Naveed Sultan, Global Head of Treasury and Trade Solutions with Citi’s Global Transaction Services. "Our teams around the globe work hard to deliver on this promise and we are pleased to once again be recognized as the best treasury and cash management provider globally."
For the first time, Citi was recognized for its innovative Purchasing Card solution. Citi’s suite of B2B card solutions leverages the industry’s largest global issuing footprint. Citi has rapidly expanded around the globe while providing clients with the consistent business experience that only a common unified technology platform and lack of reliance on bank partners can provide. As a result, Citi clients around the world benefit from consistent customer service, functionality, reporting, and new innovative products.
In addition to its suite of Purchasing Card solutions, Citi’s Commercial Card portfolio includes its award-winning Virtual Card Accounts solution, Travel & Entertainment cards, Project, Meeting and Fleet Card capabilities as well as Buyer Initiated Payment Cards.
"Citi is very pleased to have won the Purchasing Card award," added Naveed Sultan. "We have worked hard to build the infrastructure necessary to support our global clients and their objectives. This award validates our long-held strategy of providing the largest proprietary global network in the industry in order to provide clients with increased flexibility and cost efficiencies."
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.
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.
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