Citi's regional cash management offering includes electronic banking, ERP integration, real-time account reporting, centralised cross-border and domestic payments processing for all countries into Singapore.
The bank says its appointment will enable ABS to further streamline its banking processes and enhance controls across the group. As part of the mandate, ABSG will establish an Asian finance service centre in Singapore to centralise its operations in a single location. Citi says it will also help ABS to streamline the regional finance centre's activities and improve visibility control of accounts across the region.
Simon Lim, regional finance director for Asia-Pacific at ABS, says: ôRegional dialogue and consultation played a key role in our decision as did consolidating our relationship from different banks in eight different markets to one quality provider.ö
Headquartered in Texas, ABS provides risk management, safety, quality and environmental consulting services to a global client base in over 70 countries.