Citi Asia Pacific Offers Innovative Solution for Manual Payment Instructions
Hong Kong, Singapore, India, Indonesia, Philippines, Malaysia and Vietnam – Citi announces an innovative new solution for corporate clients issuing manual funds transfer instructions in Asia Pacific. The solution uses Adobe Acrobat technology and enables straight-through-processing of paper instructions into the bank’s processing system, providing clients with greater convenience and faster processing times.
The solution enables corporate clients to send local and cross-border payment instructions to Citi using a special Adobe Acrobat form. The electronic form can be saved as customized templates and has built-in features such as format validations and auto-generation of amount in words that help clients to detect common errors before sending the instructions. The service is available in Hong Kong, Singapore, India, Indonesia, Malaysia, Philippines and Vietnam.
“Citi has a longstanding track record of leveraging technology for enhancing customer convenience,” said Akash Rathke, regional head of Global Payments at Citi’s Global Transaction Services in Asia Pacific. “This new Adobe Funds Transfer form not only accelerates turnaround time of the payment, but also provides clients with greater convenience in generating manual instructions, increased control and security"
“The solution is a first-of-its-kind in the market. It integrates Adobe forms received from clients with our backend system seamlessly using dynamic barcode technology,” said Sanjay Khanna, regional head of Cash and Trade Operations Head for Citi in Asia Pacific.
The Adobe Funds Transfer innovation recently won the prestigious Indian Banks’ Association 2006 award for Best Implementation of Straight-Through-Processing.
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