Citi joins SunGard treasury network

Citi joins SunGard treasury network

Citibank has become the first financial institution to offer cash and treasury management services through eTreasury eXchange (eTX), the corporate treasury channel on the Sungard Transaction Network.

Under the agreement, SunGard Treasury Systems eTX network will serve as a conduit between corporate STN users and Citi's cash and treasury management services.

The companies says the first mutual customer to use the service is a premier logistic services company, which is already achieving straight-through-processing in its treasury operation by integrating bank account balance information with cash positions. This enables the concentration of cash positions and the execution of the necessary payment and treasury transactions.

"As Citibank is a trusted financial services provider to more than half of our clients, this relationship adds significant value by providing these clients with information and transaction services directly embedded into their own SunGard Treasury System applications," says Ken Dummitt, president, SunGard Treasury Systems.

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