The Citi Straight-Through Reconciliation product is designed to simplify and automate the reconciliation of payment transactions and management of exceptions. The new service combines a range of channels, and data from many instruments with enriched data. Citi STR users receive globally consistent and enhanced bank account statements. The statement data is available in a variety of file formats, including ISO XML, UN EDIFACT, BAI2, and SWIFT FIN.
This service was developed in partnership with clients who use CitiConnect to access Citi's Global Transaction Service's payment services in 96 countries. Citi STR reduces the costs of inefficient manual reconciliation, enables rapid identification and resolution of problem payments, and simplifies management of rejected and returned items.
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