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Citi® Verify: is this part of KYC solution for corporates?

Citi’s Treasury and Trade Solutions (TTS) has launched Citi® Verify, a new identity and account verification solution that helps clients streamline customer onboarding, reduce the risk of improper payments, and drive operational efficiencies. Through Citi’s relationship with GIACT Systems®, a leader in helping companies positively identify and authenticate customers, Citi Verify provides institutional clients with the ability to validate their US-based customers’ information prior to enrolling and initiating transactions.

Access to GIACT’s EPIC Platform

With Citi Verify, Citi customers will gain access to GIACT’s EPIC Platform, an extensive, real-time network of identity verification and authentication services available in the market. “Citi Verify demonstrates our commitment to providing a seamless payment experience, especially at a time when the industry is moving towards real-time and tokenized payments,” said Alberto Casas, North America Payments and Receivables Head, with Citi’s Treasury and Trade Solutions.  “Not only does Citi Verify provide a layer of assurance for our clients when onboarding new customers, but it also addresses the major costs incurred across the industry from misdirected payments, such as ACH returns, and will significantly strengthen the case for institutional adoption of Instant Payments.  Our clients will now have added visibility and assurance that their transactions will be processed successfully.”       

Other services 

In addition to account verification, Citi Verify provides customer identity verification as well.  Available through a single API or via a web or batch interface, Citi clients can access an extensive network of identity verification and authentication services, including customer intelligence comprised of over four billion records. 

“Customer intelligence has become vital as the speed and volume of e-Commerce, payment processing, and digital onboarding continues to increase exponentially,” continued Casas.  “With Citi Verify, our clients now have access to the most comprehensive identity and account verification solution in the marketplace.”


Citi Verify is currently available to clients in the United States and will be integrated into the existing suite of payments and receivables solutions offered by Citi’s Treasury and Trade Solutions. 

CTMfile take: Can corporates really put together their own KYC solution made up of services from many suppliers rather than just relying on just one provider?

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This item appears in the following sections:
Minimizing Payment Fraud
Know Your Customer

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