Citi Philippines continues to find ways to respond to their corporate clients’ need to transition from traditional cash or checks to digital payments to boost their commercial and treasury requirements.
This was Citi Philippines’ message at the recently organized Future of Payments Forum held at the firm’s corporate headquarters in Citi Plaza. There were around 100 attendees, including clients from top tier local corporates and multinational companies, engaged in fruitful conversations on the latest trends and issues on payments.
“At Citi, we understand that payments are at the heart of global commerce. With a digital-first approach, our network is connected, embedded and designed to help deliver a best-in-class experience across the entire journey of an organization’s payments flow,” said Paul Favila, Citi Philippines’ CCO and Banking Head.
“We enable our clients to make and receive payments globally to support their commercial and treasury needs, as if there were no borders, no currencies and no constraints,” he added.
Deputy Governor Tangonan cited the BSP efforts to push for various innovations to address gaps in the country’s payment systems, sustain interoperability, and align with global standards with the overall goal of ensuring the safety and efficiency of payments.
He reiterated, “We aim to unlock the benefits of the widespread digital payments adoption to contribute to the country’s economic growth. We are focused on developing initiatives to increase usage and bring more users into the system.”
Joining Tangonan as subject matter experts were Anoushka Dua, Citi South Asia and JANA Payments Head, who discussed payment trends in South Asia while Xin Lin, Citi South Asia Platforms Head, tackled Citi’s platforms and integrations, stressing how the bank is always on top of these trends.
“As commerce moves online and the geopolitical environment continues to evolve, regulations are shifting and clients are adapting their business models to mitigate risks, stay closer to end customers and embed payments in the digital journey so they can win business,” adds Dua.
Citi’s Services business aims to create an efficient payments experience that helps organizations transact where and when they need to, so they can stay focused on expanding their reach and growth.
The forum concluded with Arlene Nethercott, Citi Treasury and Trade Solutions Country Head, who emphasized that great things don’t happen overnight, while inviting its partners to action, “Everybody is on different journeys in payment transformation. Ours is that of helping our clients go digital.”
She also encouraged their partners to move towards digital. “If your company is still using checks or cash, we are here to put to life your own transformation. I hope it’s also your advocacy to help the country digitize and make payments a seamless experience for everybody.”
