New York, NY and Bristol, UK&ndash; Citi Treasury and Trade Solutions (TTS) and Pismo, the next-gen banking and payments software company, jointly announced their relationship in which Citi will use Pismo&rsquo;s technology platform to help strengthen Citi&rsquo;s corporate demand deposit accounts (DDA), to clients worldwide.
Citi TTS continues to migrate its solutions, services, and infrastructure to create &ldquo;always on&rdquo; capabilities aimed to improve the overall client experience and provide clients with the ability to operate DDA capabilities in real-time with 24x7 processing. Upgrading the current DDA infrastructure is a core element to the TTS technology revamp strategy, allowing for better scalability and increased processing volumes.
Stephen Randall, Global Head of Liquidity Management Services, Citi Treasury and Trade Solutions, said, &ldquo;Pismo was selected based on its core expertise and knowledge in cloud-based banking and payments capabilities. We look forward to working together and exploring different ways in which our relationship can drive Citi&rsquo;s work to help deliver clients&rsquo; global ambitions.&rdquo;
Ricardo Josu&aacute;, Pismo CEO and co-founder, said, &ldquo;We are deeply honoured to serve Citi as a key part of its journey.&nbsp; This relationship will help establish Pismo as one of the leading players in the cloud-native core banking space.&nbsp; Citi&rsquo;s selection of Pismo is a resounding endorsement of our decision to stay true to our cloud-native architectural roots and our decision to start expanding internationally in 2021.&rdquo;
Citi&rsquo;s relationship with Pismo also creates value for Citi clients by helping to deliver:
<ul>
<li>A nimble and scalable microservice-based ecosystem free of market-specific hardcoded applications, allowing for faster delivery of enhancements, easier integration across products and a globally consistent experience</li>
<li>High volume 24x7 processing and real-time data availability, which will enable clients to make more efficient cash management decisions while taking advantage of Citi&rsquo;s global network</li>
</ul>
Pismo&rsquo;s cloud-based core solutions are initially planned to be deployed by Citi in the U.S. market.
Citi Treasury and Trade Solutions (TTS) helps enable our clients' success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions, and public sector organizations across the globe. Based on the foundation of the industry's largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms, TTS continues to lead the way in offering a comprehensive range of digitally enabled treasury, trade, and liquidity management solutions.
<hr />
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at&nbsp;<a style="box-sizing: border-box; color: #255be3; text-decoration-line: none; cursor: pointer; transition: color 0.2s cubic-bezier(0.6, 0, 1, 1) 0s; font-family: Overpass, sans-serif; font-size: 14px; background-color: #ffffff;" href="http://www.citigroup.com/" target="_blank" rel="noopener" data-link-source="tiny">www.citigroup.com</a>&nbsp;| Twitter:&nbsp;<a style="box-sizing: border-box; color: #255be3; text-decoration-line: none; cursor: pointer; transition: color 0.2s cubic-bezier(0.6, 0, 1, 1) 0s; font-family: Overpass, sans-serif; font-size: 14px; background-color: #ffffff;" href="https://twitter.com/citi" target="_blank" rel="noopener" data-link-source="tiny">@Citi</a>&nbsp;| LinkedIn:&nbsp;<a style="box-sizing: border-box; color: #255be3; text-decoration-line: none; cursor: pointer; transition: color 0.2s cubic-bezier(0.6, 0, 1, 1) 0s; font-family: Overpass, sans-serif; font-size: 14px; background-color: #ffffff;" href="http://www.linkedin.com/company/citi" target="_blank" rel="noopener" data-link-source="tiny">www.linkedin.com/company/citi</a>&nbsp;| YouTube:&nbsp;<a style="box-sizing: border-box; color: #255be3; text-decoration-line: none; cursor: pointer; transition: color 0.2s cubic-bezier(0.6, 0, 1, 1) 0s; font-family: Overpass, sans-serif; font-size: 14px; background-color: #ffffff;" href="http://www.youtube.com/citi%7C" target="_blank" rel="noopener" data-link-source="tiny">www.youtube.com/citi</a>&nbsp;| Facebook:&nbsp;<a style="box-sizing: border-box; color: #255be3; text-decoration-line: none; cursor: pointer; transition: color 0.2s cubic-bezier(0.6, 0, 1, 1) 0s; font-family: Overpass, sans-serif; font-size: 14px; background-color: #ffffff;" href="http://www.facebook.com/citi" target="_blank" rel="noopener" data-link-source="tiny">www.facebook.com/citi</a>&nbsp;
About Pismo
Pismo is a technology company providing an all-in-one processing platform for banking, payments, and financial markets infrastructure globally. Large banks, marketplaces, and fintech companies use our cloud-native microservices platform to launch next-generation solutions and move from legacy systems to the most advanced technology in the market. The Pismo cloud-based platform empowers firms to build and launch financial products rapidly, scaling as they grow to have a broader audience while keeping high security and availability standards. Additional information may be found at www.pismo.io
Media Contacts
Citi: Nina Das: 212-816-9267, Nina.Das@citi.com&nbsp;
Pismo: Patricia Bartuira: 786-270-6253, marketing@pismo.io

Citi TTS Selects Pismo to Enrich Global Demand Deposit Account Solutions 

London <cite>&mdash; </cite>Global Trade Review (GTR) has awarded Citi as a Leader in Trade for Digitalisation. This prestigious accolade serves as a testament to Citi's unwavering commitment to driving the digital transformation of trade.
This year's GTR Leaders in Trade Awards, presented at the 2023 Annual Charity Awards dinner, celebrated excellence across the trade, commodity, supply chain, export finance, and fintech markets. Citi's consecutive recognition as a leader in digitalization by GTR is a remarkable achievement, highlighting the bank's continued dedication to innovation.
In response to this recognition, Chris Cox, the Global Head of Trade and Working Capital Solutions at Citi commented: "We&rsquo;re obviously honoured to be recognised for this award. Trade is an industry &nbsp;that is just embarking on a journey of true digital transformation. Delivery of frictionless financing and high-tech as well as high-touch solutions to clients, is something we&rsquo;re focussed on and committed to at Citi. Working with clients and partners like Stenn, to craft new solutions is what we&rsquo;re passionate about and want to lean into even more. So it&rsquo;s terrific endorsement that this collaboration and investment, in addition to the team&rsquo;s efforts, is recognised in this manner."
Notably, Citi&rsquo;s Trade payables strategy featuring deep-tier financing capabilities with Stenn Technologies took centre stage as part of the GTR Deals of the Year category. This was the first pre-shipment financing deal via the Trade Information Network (TIN) for Citi. Suppliers for Gap Inc. were Citi&rsquo;s first Supply Chain Finance (SCF) suppliers to join TIN to receive pre-shipment financing. &nbsp;
Citi's ongoing relationship with Stenn was acknowledged for its work with Gap Inc., facilitating deep-tier financing within SCF. The Gap Inc. deal serves as an example of how Citi empowers global supply chains by enabling access to funding at even the deepest tiers of the supplier network.
Parvaiz Dalal, Global head of Trade Payables at Citi, emphasised the significance of this achievement, stating: "The Gap Inc. and Stenn deal, recognised as a GTR Deal of the Year, showcases Citi's commitment to meeting the diverse needs of our clients. This is the first Citi SCF transaction to be routed through the Trade Information Network."
Greg Karpovsky, Founder and CEO at Stenn, commented: "The relationship between Citi and Stenn has supported our mission to bridge financial gaps by providing funding accessibility across complex global supply chains. The recognition of this collaboration in GTR's Deals of the Year category is testament to the hard work by all teams involved and underpins the importance of deep tier financing in international trade."
Gap Inc. added: "The forward thinking approach of Citi to collaborate with the Trade Information Network and Stenn enabled integrated financing across the supply chain lifecycle, ensuring improved resiliency to our suppliers."
These awards reinforce Citi&rsquo;s position as an industry leader, continually pushing the boundaries of trade finance and delivering unparalleled solutions to clients worldwide.
<hr />
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at&nbsp;<a href="http://www.citigroup.com/" target="_blank" rel="noopener" data-link-source="tiny">www.citigroup.com</a>&nbsp;| Twitter:&nbsp;<a href="https://twitter.com/citi" target="_blank" rel="noopener" data-link-source="tiny">@Citi</a>&nbsp;| LinkedIn:&nbsp;<a href="http://www.linkedin.com/company/citi" target="_blank" rel="noopener" data-link-source="tiny">www.linkedin.com/company/citi</a>&nbsp;| YouTube:&nbsp;<a href="http://www.youtube.com/citi%7C" target="_blank" rel="noopener" data-link-source="tiny">www.youtube.com/citi</a>&nbsp;| Facebook:&nbsp;<a href="http://www.facebook.com/citi" target="_blank" rel="noopener" data-link-source="tiny">www.facebook.com/citi</a>&nbsp;
Contact
Richard Bicknell: <a href="mailto:Richard.Bicknell@citi.com" data-link-source="tiny">Richard.Bicknell@citi.com</a>

Citi Trade Shines as Digitalisation Leaders and Trade Payable Innovators by Global Trade Review

<a href="/rcs/citigpa/storage/public/0702623aSPA.pdf" data-link-source="tiny">Spanish</a>
<a href="/rcs/citigpa/storage/public/0702623aPOR.pdf" data-link-source="tiny">Portuguese</a>
MIAMI &ndash; <a href="https://www.euromoney.com/" data-link-source="tiny">Euromoney</a>, the global financial markets publication, recognized Citi Latin America with three regional awards in its 2023 Awards for Excellence: Best Bank for Transaction Services, Best Bank for Financing, and Central America &amp; Caribbean&rsquo;s Best Investment Bank. Additionally, Citi was recognized as the Best Bank in Costa Rica and the Best Investment Bank in Chile (BanChile Citi).
&ldquo;We are honored to receive this recognition from Euromoney which is the result of Citi successfully delivering on our strategic priorities,&rdquo; said Paco Ybarra, Chief Executive Officer of Citi&rsquo;s Institutional Clients Group. &ldquo;We continue to invest in our industry-leading Services business to enhance the client experience and expand the integrated solutions we offer,&rdquo; he added. &ldquo;These awards recognize our dedication to innovation, unmatched global platform and continued intense focus on clients.&rdquo;
Citi&rsquo;s Services businesses include Treasury and Trade Solutions and Securities Services. In 2022, both businesses grew revenues and market share, through increased use of the global network across a range of products by both new and existing clients. The bank&rsquo;s trade, liquidity, and payment services grew an average of 40% last year in Latin America.
&ldquo;In an everchanging environment, Citi remains a leading digital bank in Latin America that connects our clients with our global network of platforms and solutions used to simplify global transactions and optimize treasury objectives,&rdquo; said Steve Donovan, Citi Latin America Treasury and Trade Solutions Head. &ldquo;We aim to provide the best experience as we deliver cohesive and client centered experiences in 20 countries across the region.&rdquo;
In addition to Services, Citi&rsquo;s Banking, Capital Markets and Advisory franchise, which serves institutional clients across the region, was recognized as Best Bank for Financing in Latin America for the third consecutive year and Best Investment Bank in Central America and the Caribbean for the fourth consecutive year. Additionally, Citi was named the World&rsquo;s Best Investment Bank in Emerging Markets, which highlights the bank&rsquo;s local presence around the world.&nbsp;
On Citi&rsquo;s success, Euromoney wrote, &ldquo;If an organization in Latin America &ndash; corporate, sovereign or multilateral &ndash; wants to raise finance, Citi will invariably be part of the conversation.&rdquo;
&ldquo;As a global institutional bank, we are committed to being the best possible financial partner for clients in Latin America and beyond. Our physical presence in 11 countries in Central America and Caribbean continues to set us apart and allows us to execute transformative, complex financing transactions&mdash;across the credit spectrum and geographies&mdash;supporting our clients and local economies each step of the way,&rdquo; said Pablo del Valle, Cluster Head for Citi Central America and Caribbean.
The Euromoney Awards for Excellence are in their 28th year and are recognized to be among the most prestigious in the financial services industry.
<hr />
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at&nbsp;<a href="http://www.citigroup.com/" target="_blank" rel="noopener" data-link-source="tiny">www.citigroup.com</a>&nbsp;| Twitter:&nbsp;<a href="https://twitter.com/citi" target="_blank" rel="noopener" data-link-source="tiny">@Citi</a>&nbsp;| LinkedIn:&nbsp;<a href="http://www.linkedin.com/company/citi" target="_blank" rel="noopener" data-link-source="tiny">www.linkedin.com/company/citi</a>&nbsp;| YouTube:&nbsp;<a href="http://www.youtube.com/citi%7C" target="_blank" rel="noopener" data-link-source="tiny">www.youtube.com/citi</a>&nbsp;| Facebook:&nbsp;<a href="http://www.facebook.com/citi" target="_blank" rel="noopener" data-link-source="tiny">www.facebook.com/citi</a>&nbsp;
Media Contact&nbsp;&nbsp;
Alexandra Ravinet: +1 (305) 420-4292, Alexandra.ravinet@citi.com &nbsp; &nbsp;

Awards highlight Citi’s Institutional Clients Group franchise across Latin America

Awards highlight Citi&rsquo;s Institutional Clients Group franchise across Latin America

Citi Wins Top Honors in the Euromoney Awards for Excellence

News

SEC Filings

Perspectives

Treasury & Trade Services

Treasury and Trade Solutions provides global solutions that can help clients drive their business forward while investing in innovation to bring new solutions to life.

Spacer

<div style="max-width: 876px;">
<h4 class="citigroup-h4">Treasury and Trade Solutions provides global solutions that can help clients drive their business forward while investing in innovation to bring new solutions to life.</h4>
<h4 class="citigroup-h4">&nbsp;</h4>
<h4 class="citigroup-h4">&nbsp;</h4>
<h4 class="citigroup-h4">&nbsp;</h4>
</div>

RichText

Treasury and Trade Solutions transformed a multinational technology company’s B2B marketplace.

GpaCard

GpaCardCarousel

Latest From Citi

GpaArticlesCarousel

GpaSubscribe

gpa-footer

GpaFooter

gpa-menu

GpaMenu

Citi, the leading global bank, serves more than 200 million customer accounts and does business in more than 160 countries and jurisdictions. Learn more today.

Treasury & Trade Solutions

Treasury and Trade Solutions provides global solutions that can help clients drive their business forward while investing in innovation to bring new solutions to life.

Learn how we help optimize the needs of our clients on a global scale.

Citi Wins Top Honors in the Euromoney Awards for Excellence

Citi Trade Shines as Digitalisation Leaders and Trade Payable Innovators by Global Trade Review

Citi TTS Selects Pismo to Enrich Global Demand Deposit Account Solutions

Sign up to receive the latest news from Citi.