Citi has launched a new client reporting solution as the latest enhancement to its middle office services. The new reporting service is built on the industry’s latest technology, including the Vermilion Reporting Suite, a leading global client reporting platform, coupled with Citi’s own Clarity data and analytics platform.
“This enhancement is the result of significant investments Citi has made in technology and intensive teamwork between Citi and our anchor client,” said Sanjiv Sawhney, Global Head of Custody and Fund Services at Citi. “Client reporting is an increasingly important function for asset managers in the investment life cycle, and we are pleased to be able to upgrade this service as part of our commitment to building out a world-class middle office platform.”
Citi’s new client reporting service offers its asset manager clients a low-touch, automated solution for configuring, formatting and scheduling customized investment accounting and performance reports. The underlying raw data can be from multiple sources, across multiple formats, and can be captured in Citi’s data lake for interrogation and detailed drill-downs.
“We chose Citi as our middle office services provider because of their willingness to co-create a solution that would meet our needs of today, and that would scale for our needs of tomorrow,” said Mike Tumilty, Global Chief Operating Officer at Standard Life Aberdeen, Citi’s anchor client for the new client reporting solution. “This upgrade to client reporting is an enhancement to an important touchpoint in our clients’ experience and another way in which Citi helps us to innovate and grow.”
Earlier this year, Citi announced the hiring of a new Head of Client Reporting Product for EMEA as part of its investment to enhance the middle office client reporting solution. Citi plans to continue expanding its reporting capabilities to support factsheet production as well as interactive self-serve portals in the future.
With over $23.6 trillion1 of assets under custody and administration and the industry-leading proprietary network spanning over 60 markets, Citi Securities Services provides clients with in-depth local market expertise, advanced processing technologies and a wide range of custody and fund services that can be tailored to meet clients’ needs.