Citibank Announces Strategic Partnership with Global PayEX for B2B Finance Automation 

Citibank and Global PayEX Partnership
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Global PayEX is pleased to announce a new strategic partnership with Citibank to bring world-class AR/AP solutions to Citibank’s extensive customer base. Citibank is one of the most trusted banking partners for thousands of corporations across 95 countries globally. 

This partnership between Global PayEX and Citibank is a significant step in revolutionizing B2B receivables and payments management. It offers an integrated solution by combining Citibank’s extensive global presence and banking expertise with Global PayEX’s AI/ML-driven automation capabilities in the B2B payments sector.

Mohan Krishnan, Founder and CEO of Global PayEX, expresses enthusiasm about the collaboration stating: 

Mohan Krishnan's quote on Citibank Global PayEX partnership

The Genesis of this Collaboration 

This partnership is founded on a shared vision to empower Citibank’s corporate clients with a state of the art, comprehensive solution for working capital management. 

Recognizing the escalating demand among the bank’s clients for new-age digital solutions to streamline back-office processes, we have formed this partnership to address the need at scale with a clear commitment to customer-centricity. 

Global PayEX’s cutting-edge technology driven by AI and expertise in B2B payments modernization perfectly complement Citibank’s reputation as a leader in global banking. 

How this Partnership Reshapes Corporate Operations 

Businesses are constantly challenged with cash management issues and struggle with last-mile reconciliation, which affects DSO and customer experience. High DSOs also restrict working capital, hindering business growth. 

Citibank, a global banking powerhouse, and Global PayEX, a leading AI-powered AR and AP solution provider, together aim to solve these business challenges with the following measurable benefits: 

  • Simplify Operations: Automate processes to eliminate manual tasks and legacy system dependencies, thus reducing complexities in finance operations. Enable automated invoice delivery, collection follow-up, and straight-through processing of transactions. 
  • Optimize Cash Management: Provide tools to tackle issues like last-mile reconciliation and high Days Sales Outstanding (DSO) to improve cash flow and working capital. 
  • Enhance Accuracy and Efficiency: Offer a comprehensive platform with rich invoice-level information for better accuracy in cash flow forecasting and improved payment management. 
  • Empower Growth: Help foster continued growth for corporate clients by improving their bottom line and competitiveness in the dynamic market through streamlined operations and improved financial management. 

Overall, this is a promising collaboration that aims to offer a comprehensive solution to the challenges faced by corporates in managing their finances and back-office operations, leveraging technology and banking expertise. 

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