Citi unveils real-time 24/7 liquidity mgmt solution in Thailand

With 7-Day Sweets, cash concentration capabilities are extended to non-business days.

Citi has launched 7-Day Sweeps in Thailand, offering a new real-time liquidity management solution with 24/7 functionality.

With 7-Day Sweeps, clients can avail of cash concentration capabilities that extend to non-business days.

Cash concentration refers to a corporate treasury practice that involves the transfer and sweeping of funds from multiple accounts to a single account. This optmizes the use of available funds for business expenses or investments, Citi said in a press release.

For e-commerce companies in particular, the service reduces liquidity risk and enhances
efficiency by meeting the need for 24/7 liquidity.

E-commerce platform Lazada has availed of the solution, and is the first company in Thailand to use the service for the local market.

For Lazada Thailand, 7-Day Sweeps is helping to reduce the need for holding reserves during weekends or outside of business hours.

The launch of 7-Day Sweeps in Thailand marks the inaugural launch of the solution for Citi’s Treasury and Trade Solutions Asia South business, Citi said.