US-based investment banking company Citi has launched the Citi Real-Time Funding (RTF) in a move to expand to its portfolio of real-time treasury solutions for corporate clients.
Currently, Citi RTF is available in Australia, Hong Kong, and the UK. Citi plans to expand the new real-time treasury solution to additional markets later this year.
Citi’s latest addition to its real-time treasury solutions automates the movement of funds between cross-border accounts based on pre-defined rules set by the client. This guarantees that cash is available when and where it’s required.
The Citi RTF also offers automated and instant funding between intercompany accounts, round-the-clock including afterhours, intraday, weekends, and holidays. It also reduces the need for account buffers, prefunding and borrowing.
Besides, the new solution will facilitate the timely and automated release of payments, domestically and across borders and deliver a unified view of intercompany loans and cash positions in single report.
The Citi RTF will support corporate treasurers in streamlining liquidity and making funding decisions with real-time data. It will also automate conventionally manual processes for 24/7 account monitoring and complex cash forecasting to support their operations.
According to Citi, the solution will be helpful for companies with a small treasury team or a centralised liquidity structure. It is expected to assist them in maximising treasury efficiency and performance.
Citi services liquidity management services global head Stephen Randall said: “With the introduction of Citi RTF, Citi continues to deliver best-in-class, real-time treasury solutions to help our clients remain competitive and agile.
“With the proliferation of instant payments and evolving business models, treasuries must be able to support rapidly growing, 24/7 cash flows.
“Citi RTF complements our existing treasury products like Real-Time Multibanking, On-Demand Sweeps and Real-Time Liquidity Sharing that are powering our clients’ journeys to real-time liquidity management.”
