TTS Global Receivables Citi Cash Application Citi

TTS Global Receivables Citi Cash Application Citi HighRadius Partnership May 2018

Identifying the strongest capabilities & providers Our existing proposition whilst functional has limitations. Therefore, in partnership with the TTS Innovation team & Citi Ventures we conducted a scan of the market in 2017 to identify the strongest capabilities & providers in the cash application space. Those shortlisted were invited to present their proposition as part of a Demo Day. 1 Engage Established Providers 2 We started by approaching providers like SAP to determine what they were offering clients Engage Citi Ventures We wrote a brief for Citi Ventures so that they could identify emerging providers across the Fintech landscape 3 Companies Shortlisted Citi Ventures shortlisted several providers from startups focusing on A/R to startups focusing on AI & Robotics 4 Review all Providers Cash Application Demo Day Each provider was assessed by the global product & the TTS Innovation team to determine whether their proposition was a good fit for Citi Top 4 providers were invited to New York, to present their proposition to Citi’s product teams around the world Companies Shortlisted 2 The FinTech HighRadius was unanimously identified as the strongest provider

Introducing HighRadius HighRadius is a Houston, Texas based provider of a cloud-enabled SaaS platform that is designed to automate the end-toend credit to cash cycle of accounts receivables processes In 2016, the company’s integrated receivables cloud platform processed 500bn in accounts receivables In Sept 2017, HighRadius secured 50MM in venture capital to continue its aggressive growth and expand its presence globally. In Dec 2017, Citi Ventures made an equity investment in HighRadius Citi will leverage the Cash Application Cloud capability to replace our existing ARMS capability. Their EIPP Cloud Domestic solution is also of interested to us globally as it could further strengthen our global proposition. Payments & Receivables Key Features 3 AI-enabled data capture systems are able to capture and read remittance information from checks, emails, email attachments, and web portals, while the Accounts Receivable engine automatically matches payments with open invoices. Benefits Achieve up to a 95% auto on-invoice hit rate. Apply cash the same day the funds hit the bank. Free up 80% or more of a cash application analyst’s time and minimize keying-in errors.

Citi HighRadius: Partners for Cash Application Challenges Who made the Payment and what was it for? Citi Innovation Client Value Client Cash applied automatically YOY savings with FTE reallocation Reduced Days Sales Outstanding (DSO) rates Higher Straight-Through Receivables (STR) rates Data Ingestion HighRadius Tech Citi Solution Overall process efficiency gain through automation 4

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