Citi's SEP Tech Slashes Asset Servicing Wait Times to Minutes
Citi Investor Services has revolutionised asset servicing with its Single Event Processing (SEP) technology. Launched in North America, SEP slashes wait times from hours to minutes, empowering clients with real-time insights and faster access to funds.
Previously, processing domestic and global transactions required separate events, taking anywhere from 12 to 36 hours. SEP unifies Citi's global and direct custody infrastructure onto a single platform, reducing this to less than 45 minutes.
The new system enables real-time processing of all global asset-servicing transactions. Payment processing, which once took an average of 8-12 hours, now completes in under five minutes. This speed and efficiency result in faster access to funds and improved accuracy, as duplication and reconciliation are eliminated.
SEP also facilitates tighter instruction deadlines, including same-day cut-offs. By requiring only one processing event for both domestic and global transactions, SEP empowers clients with real-time insights for better-informed decision-making.
Citi is currently scaling SEP globally, with plans to expand across its entire custody network by 2026. This rollout promises to transform the industry, offering clients faster, more accurate, and better-informed asset servicing.
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