Asian Paints integrates financial transactions with Citi

|April 15, 2015 0

MUMBAI, INDIA: Asian Paints has integrated its financial transactions with Citi through SAP Financial Services Network (SFSN), an integration platform.

With SFSN, Asian Paints now has a comprehensive and secure connection with Citi that standardizes financial processes and improves visibility into its financial transactions.

In today’s competitive business landscape, chief financial officers and corporate treasurers require a clear and seamless integration with their banking partners that removes manual processes associated with transactions and provides visibility into cash flow. The integration with Citi simplifies the intricacy of company-based banking services and makes it easier for businesses to connect their payment systems with the bank, saving customers time and money. It helps standardize banking operations to improve financial workflows, mitigate risk and track global cash.

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Harish Lade, General Manager, Systems, Asian Paints, said, “SAP Financial Services Network has enabled us to work seamlessly with Citi and the platform is now set to help connect other corporate banks on many financial integration functions, which are core to the success of Asian Paints.”

“We are very pleased to have partnered with both Asian Paints and SAP to create a new, transformational integration solution that combines the strength and the depth of our global network and banking services with the integration solutions from SAP based on the in-memory computing technology of the SAP HANA platform,” said Hubert JP Jolly, Global Head, Channel and Enterprise Services, Citi Treasury and Trade Solutions. “At Citi our digital strategy is to focus on a seamless and consistent cross-channel client experience, and the partnership with SAP on SAP Financial Services Network is an excellent example of this.”

With a growing number of participant banks and corporations, including DBS Bank, which recently joined the program, SAP Financial Services Network continues to expand in both partner and customer adoption, the SAP said.

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