Public Sector Solutions Framework
The challenges experienced by public sector organizations and NGOs globally are complex and diverse, and each one has a unique set of constraints and priorities. Citi has developed a wide range of solutions that combine in-depth local knowledge, proven capabilities and expertise derived from working with many of the world's most successful organizations. We invest in innovative technology to exceed citizen and stakeholder expectations, reduce costs, increase efficiency and meet stringent security standards.
We take a needs-based approach to creating and delivering solutions, according to the challenges and priorities of each organization. For example, one objective of many social security departments and government pension schemes are seeking to increase efficiency in payment processing and reduce costs. We provide efficient payment processing, both domestically and cross-border through our WorldLink solution, enabling beneficiaries located across the world to receive pension and payments promptly and securely, without increasing the administrative burden. In countries with a large unbanked population, or where beneficiaries need immediate and convenient access to cash, use of prepaid cards and mobile money support citizens' need for security and convenience.
We support Ministries of Finance and Central Banks to centralize activities such as treasury and cash management, payments and collections into shared service centers (SSCs). This reduces the administrative burden from other departments, enables the SSC to become a center of excellence, and leverages a single infrastructure and common processes.
Similarly, we can enable these organizations to implement liquidity optimization techniques such as cash pooling and interest compensation to mobilize cash more easily, reduce borrowings and increase returns.
Sovereign Wealth Funds, Pension Funds Central Banks and supranational organizations such as Development Banks are not only aiming to increase efficiency and cost control in their cash management and payments processing, but this needs to extend to asset management. We provide a highly competent, robust approach to securities and fund services, including both domestic and global custody, middle and back office processing, securities lending and collateral management.
Central Governments around the world, particularly those of countries with high levels of development are seeking to increase efficiencies and reduce costs by harnessing new technologies to increase accessibility and security of information, enhance citizen engagement and change the way that services are delivered. Consequently, we are helping governments to pursue e-Government transformation initiatives that have the potential to revolutionize service delivery and citizen engagement.
Our flexible and comprehensive commercial card proposition is enabling development banks and NGOs to demonstrate the highest level of accountability over costs and payment security, whilst being able to respond quickly to emergencies. In addition, we help development organizations to eliminate the need to hold foreign currency accounts whilst still funding projects in local currency through our WorldLink solution, that enables foreign currency payments to be made from a single account.
Central Governments and state-owned enterprises also benefit from our commercial card solutions to support streamlined and transparent procurement and expense management processes, increasing public confidence and trust. Digital identity management tools assist these organizations to ensure that security is not compromised and that services are being accessed by the right people.
Ministries of Finance together with their embassies and consulates work across the globe to deliver on government trade and diplomatic objectives and protect the interests of national citizens overseas. Despite their geographic disparity, we help ministries to achieve common processes and controls, whilst increasing convenience to individuals based remotely through our commercial card services, such as for expenses management. Meanwhile, ministries benefit from the ability to mobilize cash globally to meet liquidity needs across the world.
Local, regional and central governments, together with development banks and state-owned enterprises need to protect their suppliers to promote economic stability, protect their supply chain or achieve project objectives. We provide supply chain financing to help suppliers whilst supporting the organization's working capital objectives. We also provide other alternative financing such as receivables discounting, and we are experienced in delivering longer term subsidized financing such as export agency financing to meet economic stimulus or development objectives.
Our 'Citi for Cities' commitment enables local and regional governments and city authorities to take advantage of proven, innovative solutions for changing the way that services are delivered to citizens, efficiently, cost-effectively and conveniently. In doing so, we help authorities to create attractive places for citizens to live and work, and businesses to locate their operations.