FIS and Citi enable real-time payments for corporate treasury customers

Using the CitiConnect application programming interfaces (APIs), FIS has connected its Trax corporate payment factory to the suite of Citi Treasury and Trade Solutions – enabling integration with Citi’s core treasury management functionality, including payment initiation, transaction status inquiry and balance inquiry.

The connection allows mutual clients of FIS and Citi Treasury and Trade Solutions to execute, manage, monitor and report on their transaction flows in real-time, increasing cash management and visibility. The initiative also enables corporate customers of FIS and Citi to be better prepared for forthcoming Open Banking and cross-border payments requirements.

The CitiConnect API is progressing the client experience by further embedding into treasury workstations, proving API technology will transform how financial services are going to be both consumed and provided.

The FIS Trax payment factory provides corporate treasury functions with a platform for consolidating and standardizing their accounts payments workflow, while meeting audit and reporting requirements.

CitiConnect is Citi’s industry connectivity platform, and is part of the omni-channel digital banking product suite that also includes CitiDirect BE, CitiDirect BE Mobile and CitiDirect BE Tablet.