Citi Launches Mobile Supplier Finance Tool on CitiDirect BE Mobile
New York, NY– Citi has launched Citi® Supplier Finance Mobile, new global functionality powered by the CitiDirect BE Mobile platform that allows suppliers to inquire on the status of payments remotely from a mobile device. This new offering reinforces Citi’s far-reaching knowledge and award–winning technology to help clients compete in today’s global marketplace. Once accessed from a mobile device, the user is prompted to enter some basic information about the transaction including region, reference numbers and transaction value. The user is then able to drill down and receive additional information on the selected transaction, including the status of a payment in real time.
New features include:
- Real time status inquiry for supplier finance payment and discount requests
- Invoice level information
- Rich filter functionality by date, transaction type and reference numbers
- Availability in nine languages including English, Portuguese, Italian, German, Simplified Chinese, Russian, Spanish, Polish and French
"Citi continues to evolve our Trade solutions to bring the mobile office to our clients and their suppliers," said John Ahearn, Global Head of Trade at Citi. "With this new capability, we are further extending the accessibility of our Supplier Finance platform, making it easier for both buyers and suppliers to obtain critical information about their transactions."
In addition to the trade functionality above, other mobile features and functionality allow entitled users to:
- Receive alerts and create, authorize, release and delete batch payments for straight–through processing
- Check account balances and transaction status providing for added convenience
- Authorize imported file transactions
- Optimize usability of their mobile phones with an enhanced user interface design
Developed by the Citi Innovation Lab Dublin in conjunction with the CitiDirect® technology team, CitiDirect BE Mobile allows clients to access core transaction functionality available with CitiDirect® Online Banking using their mobile devices. Since commercializing the application in August 2011, CitiDirect BE Mobile has been recognized by the industry as an innovative solution for clients and has received the Overall Most Innovative 2012 Monarch Innovation Award presented by Barlow Research Associates, Inc. and the Innovation in Cash & Treasury Technology Award presented by The Banker magazine. CitiDirect BE Mobile will continue to be rolled out globally to facilitate mobile access to existing solutions.
Citi’s Transaction Services comprises Securities and Fund Services and Treasury and Trade Solutions, and is an integral part of Citi’s Institutional Clients Group. Transaction Services 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 97 countries, Citi’s transaction services supports over 75,000 clients. As of the first quarter of 2013, transaction services held on average $415 billion in liability balances and $13.5 trillion in assets under custody.
Citi, the leading global bank, 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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