Citi new electronic supplier finance platform launched

October 20, 2014 | 15:08
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Citi Vietnam has unveiled Citi ® Supplier Finance – a global pioneering supply chain finance initiative targeting top-tier multinational corporations and their preferred suppliers.


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Citi ® Supplier Finance is an electronic platform, where the buyers are authorised to create or upload payment instructions from their Enterprise Resource Planning accounting system.

In the meantime, the preferred suppliers can log into the system and raise financing requests for selected invoices manually or all invoices automatically. As a result, the suppliers can access a short-term funding channel at attractive rates based on the buyers’ credit rating.

This new solution is aimed at computerising supplier finance activities, thus enhancing service quality, simplifying financing process while mitigating potential risks of fraud information.

While the market returns more or less to normal, the new Citi ® Supplier Finance technology now offers both the buyers and their suppliers an opportunity to boost operational effectiveness and business agility significantly.

“Our clients in Vietnam have been aggressively pursuing innovative supply finance solutions and we are now able to deliver Citi’s best in class technology to the market. We look forward to leveraging the new state of art platform to build significant competitive advantage,” Citi Vietnam’s treasury and trade solutions head Rajakumar Ramalingam stated.

Vietnam becomes the 14th countries in Asia, in which Citi has been deploying this platform.

“The Vietnam team has been excellent partners throughout the deployment process. This has been a global effort with work done across time zones under tight timelines. I am looking forward seeing Vietnam become an integral part of the growth our business has seen in Asia,” Matthew Frohling, head of Citi Asia Supply Chain Finance.

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