Awards for Excellence 2018
Central and eastern Europe has found itself at the cutting edge of technology development, and Citi has shown itself to be an innovator in supporting its clients during this exciting time. For that reason, it is the region’s best bank for transaction services.
The region has been bolstered by the growing number of shared service centres (SSCs) being established there. Due to its position geographically, between time zones and with access to a cost-effective labour force, CEE is an attractive location for business operations. To help with the establishment of SSCs, Citi hosts dedicated forums to encourage clients to share information and operational expertise with each other.
Developments in cash and liquidity management have also been helpful in making CEE a go-to region for running treasury operations; the region has been a strong adopter of electronic cash, for example. The uncertainty created by Brexit has encouraged businesses to consider CEE, with customers looking to migrate funds from the UK.
Citi, under global head of treasury and trade solutions Naveed Sultan, has encouraged the use of notional pooling, giving clients a better overview of their cash flows and allowing them to reduce costs by offsetting funds on the balance sheet.