Citi's New Tech Slashes Event Creation to 45 Minutes, Speeds Payments to Under 5 Mins
Citi Investor Services has rolled out Single Event Processing (SEP) technology in North America, significantly reducing event creation time and enhancing transaction processing efficiency.
Previously, event creation took between 13 to 36 hours. With SEP, this process now takes less than 45 minutes, a substantial improvement. Additionally, payment processing time has been slashed from seven hours to under five minutes.
SEP unifies Citi's global and direct custody infrastructure onto a single platform. It facilitates tighter instruction deadlines, including same-day cut-offs, and enables real-time processing of all global asset-servicing transactions. This real-time processing empowers clients with timely, smarter decision-making capabilities.
The technology also simplifies processing by requiring only one event for both domestic and global transactions. By 2026, the majority of Citi's custody flows are expected to utilize SEP, further streamlining operations.
Citi's introduction of SEP in North America marks a significant advancement in transaction processing efficiency. With quicker event creation, faster payment processing, and real-time insights, clients can expect improved services and enhanced decision-making capabilities. The widespread adoption of SEP by 2026 is set to further consolidate Citi's position as a leading provider of investor services.
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