Digital Banking
Citi to deliver improved account management
July 14, 2022
Citi is partnering with Saphyre, a fintech company, to provide better account opening and management services.
Saphyre can track all local market requirements and documentation across Citi's global network and can digitize account information inputs by prep-populating market-specific documentation, according to a press release.
Citi will offer the service to Securities Services shared custody clients.
"Having Citi Securities Services live on the Saphyre platform is a tremendous accolade for our firm. By doing so, Citi takes advantage of Saphyre's strategic technology capabilities in providing a true ready-to-trade status of client accounts," Gabino M. Roche Jr., CEO and founder, Saphyre, said in the release."This patented AI-driven end-result is made possible on the back of Citi's operations taking advantage of our smart technology that pre-fills client custody packs, digital signatures, auto-setup SWIFT Reporting, trade message routing, and corporate action standing instructions — all the while tracking market requirements and their respective document statuses. The post-COVID world requires AI and digital strategies. Together, Citi and Saphyre are utilizing these technologies to provide innovative solutions that benefit their clients."
