citi-picks-up-more-cash-management-mandates

Citi picks up more cash management mandates

The firm provides a tax solution to Royal Thai Customs.

Andrew Peck

November 03, 2006

In a unique cash management deal, Citigroup has linked up with Royal Thai Customs to launch an electronic tax payment service. The two sides signed a memorandum of understanding MOU on October 26 with Royal Thai Customs agreeing to implement Citigroup's CustomsConnect tax payment platform by later this month.

According to Citigroup, its CustomsConnect service allows both importers and exporters to handle customers' tax payments via the internet, thus reducing operational costs and increasing overall efficiency. The new service will run through CitiConnect, the bank's web-enabled financial services payments portal. The platform was developed to support the global move to e-customs and to offer a single point of entry for importers and...

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