Citi Treasury and Trade Solutions (TTS) has unveiled an upgraded Supplier Finance platform with WorldLink Payment Services.
WorldLink is Citi’s institutional cross-border payments solution offering payment capabilities in more than 145 currencies across 195 countries.
The move will offer Citi clients access to two platforms and enable them to transact in various major currencies for settlement. They can also manage supplier financing and foreign currency conversions concurrently.
Besides providing access to WorldLink Payment and FX features, the Citi Supplier Finance platform will now enable clients to electronically on-board suppliers.
Additionally, it will support the management of supplier finance and foreign payment processes with more transparency. The new Supplier Finance dashboard provides clients and suppliers an overview of programme reporting.
Citi TTS global head of Trade John Ahearn said: “Now more than ever, institutional clients are faced with challenges and the complexity of paying their suppliers around the world while ensuring working capital is effectively utilised.
“By providing centralised access to these two digital solutions, we are able to give our clients a seamless and efficient process to help manage their supplier finance needs.”
Citi TTS global head of Payments and Receivables Manish Kohli added: “As institutions increasingly become global and source goods from suppliers internationally, it is important for banks to support their clients with comprehensive supply chain finance and global payments solutions.
“Citi is a leader in the trade and payments space, and we are harnessing the synergies and strength of our WorldLink platform to deliver more choice and increased efficiency to our clients.”