Friday, October 23, 2020
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Citi Upgrades Data Service Platform for Securities Services Clients

Citi confirmed today that it has enhanced its securities services data services platform Citi VelocitySM Clarity by introducing an Integrated Reporting tool, expanding the universe of available information, and upgrading its Open API functionality.

According to bank literature, Citi VelocityClarity is a data services platform that facilitates comprehensive data integration and consumption to help clients gain insight, improve operational efficiency, and reduce infrastructure costs.

“We continue to develop Citi Velocity Clarity to help our clients address their evolving needs,” said Fiona Horsewill, Custody and Funds Services Head of Digital and Data at Citi. “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,” Horsewill said.

The enhancements to Citi Velocity Clarity include a new Integrated Reporting tool that enables clients to overlay their own data, including graphical elements, with Citi held data to publish tailored high quality reports. Data from middle office trade processing, exchange traded funds, and custody billing information has been integrated into Citi’s private cloud.

Horsewill said Citi’s Open API developer-orientated tool has been upgraded with real-time push notifications that facilitates seamless data delivery and removes the need for clients to poll for updates. In addition, Citi said in a statement, to further improve efficiency, new search functionality uses natural language processing to provide instantaneous answers for client queries. “These upgrades enhance the accessibility of data to help to increase efficiency for Citi Securities Services clients,” the bank said.

Being able to harness data to gain insights and improve operational efficiency is critical to Citi’s clients, according to Sanjiv Sawhney, Head of Custody and Fund Services at Citi. “Providing a comprehensive data solution is part of our commitment to delivering an industry-leading securities services platform that can support our clients’ ambitions,” Sawhney said.

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