Citi Perspectives Fall 2019

Technological innovation is also prompting giant leaps in the banking and treasury services world. We are all now familiar with artificial intelligence (AI) and machine learning – indeed, many of us use AI every day when we interact with our smartphones. AI and other technologies such as blockchain, as well as the data science that underpins this new world, have the potential to transform the solutions we deliver, and how you interact with us. In this edition, we explore the application of emerging technologies and how they will drive greater operational efficiency. For instance, application programming interfaces (APIs) will play an important role by enabling bank and other providers’ technology to be seamlessly integrated into clients’ systems. One of our articles details the API journey taken by China’s Ping An Group, which has recently culminated in API adoption for treasury and finance functions; another article looks at the ability of APIs to deliver “the invisible bank,” where treasury and banking functions meld together. We also look at the broader impact of technology on treasury; automation will free up teams to focus on strategic rather than manual tasks; data will rule — and will assist decision-making across treasury; and treasury will become an evermore important part of business strategy discussions. New technologies will enable treasurers to reinvent how they manage capital, liquidity and risk. Moreover, they can offer potential cost savings, efficiency gains and control benefits for shared service centers. In all cases corporates will need to plan carefully to realize their goals, however. Technology is also making its presence felt in trade, with text analytics, data mining, natural language processing and other forms of AI set to accelerate the processing of global trade transactions while ensuring regulatory compliance. And in commerce, instant is becoming the new norm, as consumer expectations and supply chain relationships shift at lighting speed, resulting in a new demand for immediacy and convenience. Citi is at the forefront of efforts to bring new technologies to clients and give you the tools you need to compete in an innovation-driven world. We hope this edition of Perspectives provides valuable insights, and we welcome feedback and suggestions for future coverage. Naveed Sultan Global Head, Treasury and Trade Solutions, Citi Michael Guralnick Global Head, Corporate & Public Sector Sales and Global Marketing, Treasury and Trade Solutions, Citi Welcome Welcome to the Fall 2019 Edition of Citi Perspectives . Despite the geopolitical and trade upheaval of the past 18 months, the megatrends reconfiguring the world’s economy — globalization, urbanization and digitization — continue unabated and, in the long term, are likely to impact clients and their businesses to a greater extent. In particular, digitization, which encompasses the vast and rapid technological innovation underway today, is disrupting many industry sectors and challenging companies’ business models.