Metlife Partners with Citi to Digitize Payments
DHAKA, Sept. 15 (NsNewsWire) — Citi Bangladesh and Metlife Bangladesh have jointly held an event recently to commemorate successful completion of Host-to-Host setup between the two entities. Host to Host is an automated, two-way data transfer service for high volume online banking usage.
The occasion marked the full suite digitization of Policy and Vendor Payments for Metlife, Bangladesh’s largest insurance service provider, through partnership with Citi. Senior Officials from both organizations were present in the event.
This new solution is a big leap toward achieving the automation of MetLife Bangladesh’s paper-based payment approval system. The payment processing and reconciliation processes have also been digitized, resulting in significantly faster service delivery to thousands of Metlife’s policyholders. This is also the largest payment system integration initiative in terms of daily volume by Citi Bangladesh – Metlife’s core payment bank in the country.
Officials from both organizations hailed this collaboration as landmark during the event. Mr. Md. Nurul Islam, Regional Senior Vice President and Head of Bangladesh, Nepal and Myanmar of MetLife said, “We are committed to providing seamless experiences to all our stakeholders, and believe this digital partnership with Citi will help ensure that”. Mr. Rashed Maqsood, Citi Country Officer said in his speech “Citi has been the pioneer in payment digitization landscape of Bangladesh, and this Host-to-Host setup with Metlife underlines Citi’s continuous efforts and commitments in this regard”.
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About Citi
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 brokerages, transaction services, and wealth management.
About Citi Treasury and Trade Solutions
Citi Treasury and Trade Solutions (TTS), provides integrated cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. With a full range of digital and mobile enabled platforms, tools and analytics, TTS continues to lead the way in delivering innovative and tailored solutions to its clients. It offers the industry’s most comprehensive suite of treasury and trade solutions including cash management, payments, receivables, liquidity management and investment services, working capital solutions, commercial and prepaid card programs, trade finance and services.