Transcend secures Citi investment
16 November 2023 US
Image: fitpinkcat84/stock.adobe.com
Citi has become the newest investor for Transcend, a liquidity, funding and collateral optimisation solutions provider.
The investment 鈥� which was made through Citi鈥檚 Strategic Investments arm 鈥� aims to accelerate the global deployment of enterprise-wide inventory optimisation solutions.
As the third global bank to invest in the firm, Citi鈥檚 funding will continue to support Transcend's global roll-out of its solutions, including its optimisation technology.
The Transcend solution is designed to harmonise and integrate activity across bilateral, cleared and triparty collateral requirements, and allows allocation of the 鈥榖est鈥� collateral.
The firm indicates that the use of collateral has moved beyond operations and 鈥渋s now being seen as a strategic enterprise-wide business opportunity鈥�.
A long-term business agreement between the firms will enable Citi to enhance the efficiency of how it deploys cash and collateral across its global network, adds Transcend.
Alain Verdickt, head of collateral optimisation at Citi, comments: 鈥淭he industry-wide solutions that Transcend is developing have the promise to shift the efficiency and profitability of the industry and we are glad to play our part in facilitating these advances.鈥�
Bimal Kadikar, founder and CEO of Transcend, adds: 鈥淭ranscend is excited to welcome Citi as an investor and a client. Additionally, we are delighted that Citi's funding will allow us to expand our solutions, which are already yielding tremendous savings for the industry.鈥�
The investment 鈥� which was made through Citi鈥檚 Strategic Investments arm 鈥� aims to accelerate the global deployment of enterprise-wide inventory optimisation solutions.
As the third global bank to invest in the firm, Citi鈥檚 funding will continue to support Transcend's global roll-out of its solutions, including its optimisation technology.
The Transcend solution is designed to harmonise and integrate activity across bilateral, cleared and triparty collateral requirements, and allows allocation of the 鈥榖est鈥� collateral.
The firm indicates that the use of collateral has moved beyond operations and 鈥渋s now being seen as a strategic enterprise-wide business opportunity鈥�.
A long-term business agreement between the firms will enable Citi to enhance the efficiency of how it deploys cash and collateral across its global network, adds Transcend.
Alain Verdickt, head of collateral optimisation at Citi, comments: 鈥淭he industry-wide solutions that Transcend is developing have the promise to shift the efficiency and profitability of the industry and we are glad to play our part in facilitating these advances.鈥�
Bimal Kadikar, founder and CEO of Transcend, adds: 鈥淭ranscend is excited to welcome Citi as an investor and a client. Additionally, we are delighted that Citi's funding will allow us to expand our solutions, which are already yielding tremendous savings for the industry.鈥�
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to 色花堂Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to 色花堂Finance Times
