Citi extends e-banking system for corporate customers
January 7, 2008 - Citi extends the e-banking services for its corporate customers. With the web-based product MULTIVERSA IFP International Finance Portal Citi offers its customers a standardised platform in Germany, Austria and Switzerland. Herewith MULTIVERSA becomes the local enlargement of the global e-banking platform CitiDirect. This allows Citi to offer its customers better cash management products, which are tailored to the specific local requirements.
Thomas Feiler, Director Citi Markets & Banking, responsible for the cash management product organisation in Germany, Austria and Switzerland says: > "Our customers will benefit from more transparency for their cash flows. By introducing MULTIVERSA IFP we are enabling our customers to execute domestic payment transactions using a single platform for the three countries and are providing comprehensive and user-friendly applications for financial transactions, liquidity overview, cash pooling and forecast."
With its broad functional scope and its user-friendly, multi-lingual user interfaces MULTIVERSA IFP is the ideal access channel for Citi’s corporate customers. CoCoNet’s MULTIVERSA IFP supports the current domestic payment formats DTAUS/DTAZV (Germany), MBS EDIFACT (Austria), DTA/LSV+ (Switzerland) and SEPA. The customers can select between English and German language for the user interface.
Payments submitted by the customers are forwarded by MULTIVERSA IFP to Citi’s back-end systems or to local Automated Clearing Houses (ACH), respectively. Moreover, via MULTIVERSA IFP, Citi provides balance and transaction reporting (BTR) data to its customers. The accounts of Citi’s 1,200 important corporate customers in Frankfurt are further on administered in CitiDirect.
Data exchange between Citi customers in Germany and the central server at Citi is protected by encryption and digital signatures. Interfaces to the customers’ ERP systems enable straight through processing.
In Germany, Citi supports additional e-banking channels. Via common multi-bank customer systems Citi customers can submit payments also via the domestic multi-bank standards BCS/FTAM and EBICS or via customer-specific host-to-host procedures such as RVS.
About Citi
Citi is the world’s leading financial services provider – represented in more than 100 countries with some 200 million customer accounts. Citi offers retail customers, corporates, governments and institutions a broad product line of different financial services, as for instance retail and corporate banking, investment banking, securities trading as well as asset management. Citi’s portfolio includes numerous major brand names such as Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex.
Further information: www.citigroup.com or www.citi.com