Citi Unveils Citi Digital Bill

Citigroup

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(RTTNews) - Citi said it has introduced Citi Digital Bill (CDB), an integrated digital bill discounting solution that modernizes traditional practices. CDB simplifies processes by eliminating the need for physical documents and couriers, streamlining the movement of paperwork across various parties and locations.

For sellers, CDB offers a quicker, more transparent way to manage receivables, reducing the time needed to monetize them from a week to less than an hour.

For buyers, CDB enables them to gain visibility into the status of invoice approvals and access to digital bills at any time, leading to better tracking and management of transactions. It also connects buyers with key relationship banks efficiently, enhancing risk matching. This new digital solution makes it easy for clients to transition to the new system without major disruptions, the company said.

Citi noted that the CDB is currently available to its clients in the United States, the United Kingdom, and Ireland, with plans to expand to additional countries in 2024.