Awards for Excellence 2018
Africa has seen a seismic shift in its transaction banking operations in recent years. With many international banks retrenching, those who remain are bedding in and extending their reach across the continent.
Citi has its feet on the ground across the continent, giving it a reach and stability that is difficult to match by either regional or the international competitors.
Citi has moved to align itself with the 2020 Vision growth plans adopted by many of the continent’s central banks. Under Peter Crawley, treasury and trade solutions head, sub-Saharan Africa, CIti has also aligned its business with the increasing trade flows in the region. Recognizing the importance of a single channel of support, it has focused on developing and improving its Trade Services Hub.
As the continent is known for being an early adopter of fintech, it serves as a good testing ground for further advances. Earlier this year, Citi launched two robotic process automation (RPA) applications in east Africa that will automate the movement of financial information between the bank and its clients.