FIS and Citi bring real-time payments to the corporate treasury
(16 October 2017 – Global) FIS, a global financial services technology provider, and Citi Treasury and Trade Solutions have jointly announced that they are collaborating to enable real-time payments and cash management for their corporate treasury customers.
Using the Citi’s CitiConnect application programming interfaces (APIs), FIS has connected its Trax corporate payment factory to the suite of Citi Treasury and Trade Solutions - enabling seamless integration with Citi’s core treasury management functionality, including payment initiation, transaction status inquiry and balance inquiry.
Key facts
FIS connects its Trax corporate payment factory to the Citi Treasury and Trade Solutions system using Citi open application programming interfaces.
The connection allows corporate treasury departments of FIS and Citi to manage transaction flows in real-time, increasing cash management and visibility.
The collaboration also helps corporate customers to be better prepared for forthcoming open banking and cross-border requirements.
The connection allows mutual clients of FIS and Citi Treasury and Trade Solutions to execute, manage, monitor and report on their transaction flows in real-time, increasing cash management and visibility. The initiative also enables corporate customers of FIS and Citi to be better prepared for forthcoming open banking and cross-border payments requirements.
Chief Operating Officer of Banking & Payments for FIS, Anthony Jabbour said, “This breakthrough collaboration between FIS and Citi allows businesses to transform their treasury and accounts payable departments and create a modern, real-time system for cash management.
“Using the power of open application programming interfaces, FIS and Citi are delivering on the promise of faster payments for our customers around the world.”
“This joint partnership combines the strengths of CitiConnect API with FIS services to enable real-time banking and decision making,” stated Naveed Sultan, Global Head of Treasury and Trade Solutions, Citi.
“We are extremely pleased to demonstrate how treasury can leverage API functionality to effectively manage their transaction banking activity directly from their own trusted applications, whether on a tablet, mobile device or laptop,” he said.
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