Bangkok, Hong Kong – The Stock Exchange of Thailand has appointed Citi to provide a comprehensive cash management solution as part of its goal to achieve higher operational efficiency through better management of its cash flow and streamlining of its day-to-day cash management needs.
“We are honoured to be working with Stock Exchange of Thailand as their cash management solution provider to streamline and centralize their existing processes. This mandate further underlines our commitment to work with our clients for tailored solutions that best serve their needs,” said Darren Buckley, Citi Country Officer and Country Head,Thailand.
The proposed cash management solution will allow SET to leverage their current system to streamline transaction processing and automate reconciliation. With Citi’s end-to-end payment solution, SET will achieve enhanced security, effective audit controls and flexible processing capabilities customizable to SET’s requirements and needs. Leveraging on Citi’s extensive local and global network, SET will also be able to expand their collection points and will be able to eliminate unidentifiable incoming cross border fund transfers through the use of Virtual Account. In addition, the comprehensive liquidity solution including cash pooling will enable SET to improve their use of funds across their various entities more efficiently.
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About Citi
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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About Citi Transaction Services
Citi Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 95 countries, Citi’s Transaction Services supports over 65,000 clients. As of the third quarter of 2012, it held on average $415 billion in liability balances and $12.8 trillion in assets under custody.
