Hong Kong – Citi Treasury and Trade Solutions Asia Pacific has been recognized for its role in partnering with clients for excellence in Treasury Today's Adam Smith Awards Asia 2019, with Citi client Agilent Technologies Singapore named Top Treasury Team 2019. This is the fourth consecutive year that Citi has with partnered clients recognized as Top Treasury Team in the annual awards program.
Agilent's Treasury team was credited with the transformation of the company's business model, driving progress in its acquisition and strategic growth plans in the region. Now in its sixth year, the Adam Smith Awards program is recognized as the industry benchmark for corporate best practice, with categories tailored to honor corporates across the Asia Pacific region for their strategies and achievements.
The Top Treasury Team award is one of the most coveted wins in the awards program. A total of 300 nominations were submitted for the awards this year.
In addition to Agilent, Citi also partnered with clients recognized as winners across a number of different categories—Olam International for Best Working Capital Management and Best Funding Solution, and Mondelez International AMEA which was given the Judges' Choice Award. A total of six additional clients were recognized as Highly Commended across various categories.
Ernesto Pittaluga, Asia Pacific Corporate and Public Sector Sales Head, Treasury and Trade Solutions, Citi, said: "We are proud to be partnering with our clients in Asia Pacific, helping them to achieve their business goals and treasury priorities. It is clear that the role of treasury teams is evolving to be more than a driver of efficiencies. Treasury teams are becoming a strategic enabler for their businesses, contributing to decision-making and influencing the direction and evolution of business models in the digital economy. Supporting this transition, Citi continues to make strategic investments to expand our capabilities for our clients, helping them stay ahead in the face of disruption across their industries."
Sally Shung, Assistant Treasurer, Agilent Technologies Singapore, said: "Our Singapore treasury team has continued to extend the scope, complexity and geographic reach of our activities across both Asia and Europe. This has included taking responsibility for functions that were previously managed in the Corporate office, such as FX and insurance, with demonstrable benefits. Our ultimate objective has been to create a more dynamic and robust treasury team who can partner with the business to support their expansion strategies, enabled through engagement with our key bank. To achieve this objective, and overcome the enormous challenges presented by the continuous expansion of our responsibilities, our team members have embraced the opportunity to develop new skills and approaches, and to explore and realize the potential of leading-edge technology and bank solutions. It has been a pre-requisite to have an equally open-minded and dynamic banking partner in this journey and we are very happy with our continuing partnership with Citi."
Citi's Treasury and Trade Solutions business in Asia Pacific has introduced a number of innovative solutions for clients including Digital Onboarding, enabling clients to open new and/or additional accounts in as quickly as two days. The business also introduced biometric authentication for institutional clients and launched Citi's Payment Outlier Detection solution in 90 countries worldwide. The proprietary tool leverages Artificial Intelligence and Machine Learning to proactively identity outlier payments via Citi's institutional electronic banking platforms.
Also using artificial intelligence and machine learning, Citi partnered with HighRadius Corporation to launch Citi® Smart Match, an automated reconciliation solution to increase the efficiency of the cash application process of matching open invoices to payments received for corporate clients. Using institutional APIs, Citi also continues to enable clients to access a growing number of Citi solutions more seamlessly. Citi Connect®, the bank's API connectivity platform has processed over 157 million API calls until August 2019, the majority of which were from companies in Asia Pacific and Europe.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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Citi's Treasury and Trade Solutions
Citi Treasury and Trade Solutions (TTS) enables 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 the industry's most comprehensive range of digitally enabled treasury, trade and liquidity management solutions.
Harsha Jethnani, firstname.lastname@example.org, +852-2868-7738