Hong Kong: Citi & DTTNCo Provide Community e-Platform to Small & Medium Enterprises to Facilitate Digital Supply Chain Payment

Enhancing the Overall Competitiveness of the Trade and Logistics Industries

Hong Kong – Citi and Digital Trade and Transportation Network Limited (“DTTNCo”) today announced a joint effort in promoting electronic business adoption in documents exchanges, especially amongst the Small and Medium Enterprises (SMEs). The move supports the Hong Kong Government’s initiative of encouraging SMEs going electronic for the exchange of electronic documents and information.

The first of its kind in Hong Kong, DTTNCo offers an open, neutral, secure and reliable community e-platform to facilitate information flow and service integration along the entire supply chain. SME customers can use DTTN e-platform not only to link up with their buyers, but also with suppliers as well as with logistic providers. Through the cooperation between Citi and DTTNCo, Citi customers can streamline their payment instruction process through the use of DTTN e-platform and Citi’s award-winning Internet platform, CitiDirect® Online Banking.

Anson Kwok, Managing Director and Head of Hong Kong Commercial Relationship Banking, Citi, said, “The cooperation between Citi and DTTNCo provides our commercial clients with a single window to enhance supply-chain efficiency and make them more accessible to bigger partners that ultimately contributes to their long-term business development. Citi sees clients’ success as our success and we will continue to deliver our promise of providing the best solutions to our clients.”

Agnes Nardi, Chairman of DTTNCo said, “DTTNCo is delighted to partner with Citi, a leading global financial services company, to further extend our e-services to its customers and to meet with various needs of SMEs especially in settling the transaction payment. DTTNCo provides an open and neutral e-platform for Citi customers to connect all parties along the supply chain from trading, logistics and banking industries. The e-platform enables SME customers to exchange all documents as well as to settle payments involved in the supply chain to reduce operation cost and to enhance efficiency via the reliable and easy-to-use community e-platform.”

To showcase the powerful features of the DTTN e-platform and how the SMEs can benefit from it, Citi, DTTNCo and the Hong Kong Productivity Council (HKPC) will jointly host a seminar on capital management and information technology on June 4, 2008. In the seminar, a demonstration on the operation of the integrated solution will be delivered. Citi will also share how to make use of treasury tools to mitigate risks and deal with expensive operating environment.

Dr Lawrence Cheung, Principal Consultant of IT Industry Development Division of HKPC welcomed the cooperation between Citi and DTTNCo. “The cooperation offers SMEs a trusted electronic document exchange and e-banking service. SME customers can enjoy an efficient and secure e-payment service without huge investment on information technology. DTTNCo provides a community wide e-platform fully supported by the Hong Kong Government. I look forward that more SMEs will implement electronic commerce in the future.”