Citi’s Global Transaction Services (GTS) business has opened an innovation lab in Singapore.
This comprises a Client Experience Centre and a Client Collaboration Centre. It's the first such innovation lab for the bank’s institutional clients in Asia Pacific (there are another two in San Francisco and Dublin) and showcases new web, mobile, supply chain and analytics technologies.
“Innovation has always been a driving force for our growth, and the challenge is to continually innovate and invest in new technologies and new capabilities to maintain our market leadership. This innovation lab will be an important contributor to our future growth in Global Transaction Services,” says Anthony Nappi, region head, Asia Pacific, Global Transaction Services.
A recent example of work carried out was a solution for Coca-Cola, a ‘market first’ in India, Korea and China, which captured its C2B digital payment flows. The mobile browser-based application allows clients to receive notifications and authorise payments using their mobile phones. “In a volatile and ever-changing world, it is important for clients to be able to test various scenarios and the impact they may have on their business. The lab will play an important role in helping our clients navigate uncertain markets. The lab overcomes the challenge of getting clients to visualise new solutions developed for them, a process that used to take weeks and months can now be done in hours,” says Nappi.
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