Leading Indian paint company Asian Paints has integrated its financial transactions with Citi.
The SAP Financial Services Network is an integration platform designed to simplify interactions between corporations and financial institutions. Hosted by SAP as an on-demand offering, the network offers multiple services over a single channel, including process integration, enrichment and easy exchange of financial messages, and a way to connect to multiple banks through the same network.
The integration with Citi simplifies the connection of Asian Paints’ payment systems with the bank, and helps standardise banking operations to improve financial workflows, mitigate risk and track global cash.
“As our business grows, it is becoming increasingly important to capitalise on efficiencies wherever possible, particularly when it comes to back-end processes and financial management,” said Harish Lade, general manager, systems, Asian Paints. “SAP Financial Services Network has enabled us to work seamlessly with Citi and the platform is now set to help connect other corporate banks on many financial integration functions, which are core to the success of Asian Paints.”
Citi has become one of the first co-innovators and multinational banks to join the SAP Financial Services Network, with other participating banks including DBS Bank.
