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Citi launches payments risk management tool

The new Citi Payments Risk Manager, described by the Citi’s Treasury and Transaction Solutions group as “new functionality (that) gives clients enhanced visibility and control over their payment flows by providing aggregated payments data, reporting and trend detection capabilities to facilitate the clients’ investigation of potential outlier transactions”. 

It aggregates payments data across countries, currencies, payment methods and beneficiaries to derive the client’s normal patterns of payment activity and highlight transactions that fall outside of those trends. The data collected is presented in a user-friendly, configurable dashboard accessible from the CitiDirect BE portal.

The Payment Risk Manager provides a convenient drill down data view and customisable reports, allowing the AP department to interact with their data easily and efficiently.

Citi piloted the solution first in India, followed by a launch in selected Asian countries and North America. There are plans to launch the new service globally.

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