Celent recognizes Citi as the winner of the 2020 Celent Model Bank Award for Trade Finance and Supply Chain for its initiative Next Generational Trade Finance. Trade transaction review has traditionally been a manual process that must operate in an environment of heightened regulatory standards. Manual transaction reviews have become more complex as regulations evolve across the industry. Citi’s Global Trade business continues to work to digitize its platforms and processes by leveraging technology. As a part of this strategy, Citi digitizes over 25 million trade-related pages annually with OCR. Trade automation continues this legacy by using artificial intelligence to assist with the automation of manual processes. Citi selected EY and SAS as technology vendors based on their combination of technology and business knowledge. SAS’s advanced analytics solutions assist in solving complex, highly scalable, and data-intensive challenges. EY provided business, risk, and technology consulting expertise to facilitate project management.
