Summary
CitiConnect provides information needed for cash management through a direct connection to Citi from a company’s ERP system or treasury workstation. It also supports message and file exchange in more than 135 currencies for cash management services in over 90 countries.
Types of CitiConnect
- - CitiConnect for Files : A single-channel solution for the transmission and receipt of files across the world to support cash management services which are linked to clients’ ERP systems or TMS.
- - CitiConnect for SWIFT : Citi’s global network and various product offerings are linked with SWIFT network thus corporates can get up-and-running faster on SWIFT through Citi’s centralized hub model.
CitiConnect for Files
- A solution for the transmission and receipt of files for Citi’s global treasury and trade solutions, CitiConnect provides a direct, seamless connection to Citi from a company’s treasury workstation or ERP system. Real-time visibility into and control over transaction processing help make cash management more efficient and effective. CitiConnect is fully integrated with CitiDirect BE.
- - Single file of payment instructions handles any combination of various domestic, cross-border transactions.
- - Increased automation reduces error and costs of manual intervention, and improves transaction speed and accuracy of data exchanged
- - True straight-through processing with clients’ ERP system and automation
- - Transact faster and optimize liquidity
CitiConnect for SWIFT
- By using the SWIFT network, CitiConnect for SWIFT provides an integrated real-time connection for initiating payments, receiving information, etc. between Citibank and a company’s treasury management system. Corporates can get up-and-running faster on SWIFT through Citi’s centralized hub model.
- - Standardize business operations on a global scale.
- - Citibank has processed a large volume of SWIFT message traffic for corporates, providing high-quality SWIFT services.
- - Connect to Citi via choice of Business Identifier Code, and access Citi’s branch network through a single local Citi connection, saving costs by ensuring: transmission of payment messages or files between a company and Citi reduces SWIFT traffic fees; and bulk MT messages are sent via SWIFTNet FileAct to reduce messaging costs.
