Awards for Excellence 2019
Continued investment in people, technology and partnerships to consolidate the bank’s cash and trade networks in sub-Saharan Africa make Citi Africa’s best bank for transaction services for the third year in a row under Peter Crawley, its treasury and trade solutions head, based in Johannesburg.
Over the last year, Citi has developed digital solutions to support its clients’ transaction banking needs in collaboration with a number of partners, making the bank a leader in tech and artificial intelligence in cash and trade finance across the continent.
For example, the bank partnered with High Radius, a company specializing in cloud-based integrated receivables, using the company’s AI and machine-learning technology to launch Citi Smart Match. The product increases efficiency and automation of the cash application process of matching open invoices to payments received for clients in Africa.
The bank has also launched Citi Payment Insights across Africa. Citi Payment Insights provides real-time payments visibility, including processing status, charges deducted across correspondent banks, the amount credited to the beneficiary and the ability to action payments on demand.