FIS, Citi collaborate on real-time corporate treasury payments

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Bank services provider FIS has connected its Trax corporate payments platform to Citigroup via a series of application programming interfaces (APIs), enabling treasury payments to flow in real time and improving cash management for corporate customers.

The integration supports payment initiation, transaction status inquiry and balance inquiry, and positions corporations using FIS and Citi for treasury payments to be better prepared for new open payments and cross-border requirements from European and U.K. payments authorities, FIS and Citi said in a Monday press release.

“This joint partnership combines the strengths of CitiConnect API with FIS to enable real-time banking and decision making,” said Naveed Sultan, Citi’s global head of treasury and trade solutions, noting that users in corporate treasury departments may manage transactions from their own applications via a tablet, mobile device or laptop.

“Using the power of open application programming interfaces, FIS and Citi are delivering on the promise of faster payments for our customers around the world,” said Anthony Jabbour, FIS’ chief operating officer of banking and payments.”

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B-to-B payments APIs