Citi Treasury and Trade Solutions and FIS, a provider of financial services technology, are collaborating to enable real-time payments and cash management for their corporate treasury customers.
Using the CitiConnect application programming interfaces (APIs), FIS has connected its Trax corporate payment factory to the suite of Citi Treasury and Trade Solutions – enabling integration with Citi’s core treasury management functionality, including payment initiation, transaction status inquiry and balance inquiry.
FIS connects its Trax corporate payment factory to the Citi Treasury and Trade Solutions system using Citi open application programming interfaces. The connection allows corporate treasury departments of FIS and Citi to manage transaction flows in real-time, increasing cash management and visibility.
The collaboration also helps corporate customers to be better prepared for forthcoming open banking and cross-border requirements.
The connection allows mutual clients of FIS and Citi Treasury and Trade Solutions to execute, manage, monitor and report on their transaction flows in real-time, increasing cash management and visibility. The initiative also enables corporate customers of FIS and Citi to be better prepared for forthcoming open banking and cross-border payments requirements.
The FIS Trax payment factory provides corporate treasury functions with a highly secure platform for consolidating and standardizing their accounts payments workflow, while meeting audit and reporting requirements.
CitiConnect is Citi’s connectivity platform, and is part of the omni-channel digital banking product suite that also includes CitiDirect BE, CitiDirect BE Mobile and CitiDirect BE Tablet.