Citi and Taskize Limited announced that they have entered into a strategic agreement where Citi Securities Services’ custody clients can leverage Taskize’s query management platform to directly connect to their Citi Operations counterparts.
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“By leveraging Taskize’s email management, flexible API integration and traceability on queries with fully auditable workflow, our custody clients will be able to gain greater insight into the status of their queries.”
This collaboration brings together Taskize’s structured workflow capabilities and Citi’s industry-leading proprietary custody network spanning over 60 markets to create a network effect between Citi, its counterparts and various market infrastructures to address operational workflow challenges.
“This partnership is based on a shared vision of secure inter-company workflows for query management and to move away from email chains between operational counterparts,” said Jeffrey King, Global Head of Custody Product Development at Citi. “By leveraging Taskize’s email management, flexible API integration and traceability on queries with fully auditable workflow, our custody clients will be able to gain greater insight into the status of their queries.”
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Taskize’s user interface provides Citi’s custody clients with a direct means to contact their operational counterparts, replacing the traditional email mechanism, and provides real-time visibility on current query status and full audit trail capabilities. By creating an end-to-end operational workflow experience with counterparties, Citi custody clients can benefit from an accelerated and enhanced counterparty resolution experience.
“We are delighted to be partnering with Citi, empowering them to service their clients in a secure, efficient and transparent way,” said Philip Slavin, CEO and co-founder of Taskize. “This is another great example of Citi and Taskize embracing the industry’s drive to greater efficiency and control through best-of-breed partnering and inter-operability.”
This agreement further illustrates Citi’s commitment to delivering innovative solutions to clients while mitigating risk. The Taskize platform streamlines costly counterparty workflows across buy-sides, sell-sides, custodians, market infrastructures and Fintech providers, without risking data sovereignty. Citi’s custody clients will not only have access to the Taskize network, but also the ability to raise queries to all other institutions currently operating on the platform.
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