Citi takes everything it does seriously, but there is a special place in its collective consciousness for transaction services. This often-sprawling area of financial services, which chief executive Jane Fraser calls the crown jewel of the bank, is the beating heart of all Citi stands for.
The US bank’s strength was to spot early on how Covid was changing supply chains and accelerating changes in how its clients, both corporate and financial, operate. Big corporates must be digitally nimble. They want to realize individual payments in real time, then be able to move the capital they earn around the organization.
This is also driving change within a vast cross-section of banking still referred to internally as treasury and trade services. And this is where Citi comes in.
“We are not only focused on treasury needs but also thinking about how we support our clients’ sales activities as supply chains and corridors shift,” says Rajesh Mehta, Asia Pacific head of treasury and trade solutions (TTS).