Evertec Inc. announced it has expanded its regional collection and payment platform with Citi to include Mexico through Citibanamex.
This platform, which serves Citi’s corporate treasury clients, is already live in Colombia and in Guatemala, it announced.
“We’re pleased to be Citi’s partner with this solution to simplify the collection process for regional corporations and their customers,” Evertec CEO Mac Schuessler said.
“Given the technical and functional characteristics of the platform, Citi will be able to optimize its payment and collection processes, which will help them maintain their leadership in the Cash Management arena throughout the region,” he said.
“This agreement with Citi is a further affirmation of our ability to provide Latin American clients with regional technology solutions,” he added.
This solution is part of Citi’s strategy called ONE Receivables that will allow Citi’s corporate clients to collect their reconciled invoices and centralize their information facilitating the collection, consolidated concentration and notification processes through their own digital collection channels and those offered by third parties.
“This solution is one of the key components of Citi’s digital strategy within its treasury management business in the region,” said Gabriel Kirestian, payments and receivables head for Latin America Citi.
“Through our ONE Receivables platform, we will offer our clients a unique real-time integrated collection model with more than 10,000 distribution points throughout the region as well as access to the ACH network for the automated processing of direct debits,” Kirestian said.
“We found in Evertec an ideal business partner to help us in this process as they are a leading company in financial technology and payment processing in the region,” he added.