Citi has rolled out a real-time liquidity sharing solution to help companies improve the management of their working capital. The bank is initially launching the platform across six markets in Asia-Pacific – Australia, China, Hong Kong, New Zealand, Singapore and Taiwan – with additional markets to follow in line with client demand.
The need for improved efficiencies has been heightened by pandemic-driven remote working, rapid changes to business models and the ensuing stress on liquidity. With Citi Real-Time Liquidity Sharing, treasury teams can mobilize liquidity and fund intraday payments across multiple accounts and entities in real-time, without having to bother with physical funding of the accounts. This allows companies to maximize their working capital and eliminates the need for manual funding and forecasting, thereby saving hours of work and reducing the administrative costs associated with external and subsidiary borrowing, according to the bank.
Sandip Patil, Citi’s Asia-Pacific head of liquidity management services, treasury and trade Solutions, says: “Clients can benefit from real-time funding solutions even in situations where their cash flow forecasting may not go as planned. Beyond treasury automation, our new solution further complements how we are helping clients realize true e-commerce and real-time growth potential, by bringing embedded instant payments and liquidity solutions on a 24x7 basis.”
The launch of Citi Real-Time Liquidity Sharing is one of many recent innovative liquidity solutions developed and deployed by the bank's award-winning liquidity management business to enhance its Cash Concentration product suite and expand geographical reach into markets.