Citi Treasury and Commerce Options (TTS) has made an funding in Icon Options, a fintech supplier of funds know-how and consultancy providers.
Along with the funding, Citi plans to broaden its use of the Icon Funds Framework (IPF) to boost its micro-services orchestration structure. This funding and relationship with Icon Options demonstrates Citi’s technique of working with fintechs to strengthen its know-how and funds capabilities.
Citi is engaged on a multi-year modernization effort of its funds platforms. As a part of this system, Citi is working with and has invested in Icon Options to broaden its innovation toolkit and futureproof its funds providers. TTS can be utilizing the IPF as a part of its micro-services structure.
Citi’s new cost platform will prioritize flexibility and speed up the financial institution’s means to answer the exponential tempo of change in cost infrastructure and the regulatory setting, in addition to evolving shopper calls for in an more and more 24/7, real-time, digital-first setting.
Debopama Sen, Head of Funds, Citi Treasury and Commerce Options, mentioned:
“We’re on a journey to unlock the complete potential of the Citi community and reply to the necessity for a streamlined and environment friendly cost processing system. By means of this relationship, we’re eradicating platform complexity throughout our a number of merchandise by following a strategy of ‘de-platforming’ widespread enterprise providers and creating reusable and extensible providers that may be orchestrated utilizing the IPF framework.”
“Our new method will empower our engineering groups to reply faster and extra effectively to business developments, reminiscent of ISO 20022, and ship high-quality innovation and performance for our shoppers,” she added.
Tom Kelleher, Co-Founder and Director, Icon Options, provides:
“We’re proud to be working with Citi on their journey in the direction of a very environment friendly, versatile funds platform. By reimagining its funds processing to mirror a quickly evolving ecosystem and rising buyer necessities, Citi can meet the alternatives and calls for of tomorrow. IPF gives a sustainable various to conventional infrastructure to help this variation, empowering Citi to take management, overcome complexity and simplify funds transformation throughout the group.”
Citi TTS helps allow its shoppers’ success by offering an built-in suite of revolutionary and tailor-made money administration and commerce finance providers to multinational firms, monetary establishments, and public sector organizations throughout the globe. Based mostly on the muse of the business’s largest proprietary community, with banking licenses in over 90 nations and globally built-in know-how platforms, TTS continues to cleared the path in providing a complete vary of digitally enabled treasury, commerce, and liquidity administration options.
