Citi upgrades data service platform for securities services clients
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Citi upgrades data service platform for securities services clients 17 September 2020London Reporter: Maddie Saghir
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Citi has updated its securities services data services platform including the introduction of an integrated reporting tool, an expansion of the universe of available information, and upgraded its open application programming interface (API) functionality.
The data services platform, Citi Velocity Clarity, facilitates comprehensive data integration and consumption to help clients gain insight, improve operational efficiency, and reduce infrastructure costs.
The enhancements to Citi Velocity Clarity include a new integrated reporting tool that enables clients to overlay their own data.
Data from middle office trade processing, exchange traded funds, and custody billing information has been integrated into Citi’s private cloud.
It was explained that Citi’s open API developer-orientated tool has been enhanced with real-time push notifications that facilitates seamless data delivery and removes the need for clients to poll for updates.
In addition, to further improve efficiency, new search functionality uses natural language processing to provide instantaneous answers for client queries.
Fiona Horsewill, custody and funds services head of digital and data at Citi, said: “These latest updates will help our clients further increase their efficiency by allowing them to spend more time on data analysis and less time on data maintenance and assimilation.”
Sanjiv Sawhney, head of custody and fund services at Citi, commented: “We understand that being able to harness data to gain insights and improve operational efficiency is critical to our clients. Providing a comprehensive data solution is part of our commitment to delivering an industry leading securities services platform that can support our clients’ ambitions.”
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