Citi & Pismo partner to enhance ‘Demand Deposit Accounts’ solutions

By Delisha Fernandes

Citi Treasury and Trade Solutions (TTS) and Pismo, the next-gen banking and payments software company, announced their partnership in which Citi will use Pismo’s technology platform to help strengthen Citi’s corporate demand deposit accounts (DDA) to clients worldwide.

Citi TTS continues migrating its solutions, services, and infrastructure to create “always on” capabilities to improve the overall client experience and allow clients to operate DDA capabilities in real-time with 24×7 processing. Upgrading the current DDA infrastructure is a core element of the TTS technology revamp strategy, allowing for better scalability and increased processing volumes.

Stephen Randall, Global Head of Liquidity Management Services Citi Treasury and Trade Solutions, said, “Pismo was selected based on its core expertise and knowledge in cloud-based banking and payments capabilities. We look forward to working together and exploring ways our relationship can drive Citi’s work to help deliver clients’ global ambitions.”

Ricardo Josua, Pismo CEO and co-founder, said, “We are deeply honoured to serve Citi as a key part of its journey.  This relationship will help establish Pismo as one of the leading players in the cloud-native core banking space.  Citi’s selection of Pismo is a resounding endorsement of our decision to stay true to our cloud-native architectural roots and expand internationally in 2021.”

Citi Treasury and Trade Solutions (TTS) helps enable our client’s success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions, and public sector organisations across the globe.

Based on the foundation of the industry’s largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms, TTS continues to offer a comprehensive range of digitally enabled treasury, trade, and liquidity management solutions.