EVERTEC Announces Regional Expansion of Collection Hub Solution With Citi
SAN JUAN, Puerto Rico–(BUSINESS WIRE)–EVERTEC, Inc. (NYSE:EVTC) (“Evertec” or the “Company”) announced today that it expanded the Company’s 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.
Mac Schuessler, President and Chief Executive Officer of Evertec, said: “We are pleased to be Citi’s partner with this solution to simplify the collection process for regional corporations and their customers. 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. This agreement with Citi is a further affirmation of our ability to provide Latin American clients with regional technology solutions ”
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.
Gabriel Kirestian, Payments and Receivables Head for Latin America Citi, said: “This solution is one of the key components of Citi’s digital strategy within its treasury management business in the region. Through our ONE Receivables platform, we will offer our clients a unique real-time integrated collection model with over 10 thousand distribution points throughout the region as well as access to the ACH network for the automated processing of direct debits. 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.”
Evertec, Inc. (NYSE: EVTC) is a leading full-service transaction processing business in Latin America, providing a broad range of merchant acquiring, payment processing and business solutions services. The Company manages a system of electronic payment networks that process more than 2 billion transactions annually and offers a comprehensive suite of services for core bank processing, cash processing and technology outsourcing. In addition, Evertec® owns and operates the ATH® network, one of the leading personal identification number (“PIN”) debit networks in Latin America. Based in Puerto Rico, the Company operates in 26 Latin American countries and serves a diversified customer base of leading financial institutions, merchants, corporations and government agencies with “mission-critical” technology solutions. For more information, visit www.evertecinc.com
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
For more information please visit http://www.citigroup.com/latinamerica.