Citigroup’s Treasury and Trade Solutions (TTS) division has joined forces with payments infrastructure company Dandelion to give corporate clients a new pathway for business-to-business (B2B) payments across borders. The collaboration opens access to Dandelion’s large global network, making it easier for Citi clients to pay suppliers, vendors, and even individuals in multiple countries. The aim is to take some of the friction out of international transactions and make them more straightforward for businesses.
Key Takeaways
- Citi’s corporate clients now gain access to Dandelion’s global payment network.
- The partnership extends payout options to include local bank transfers and digital wallets.
- It is designed to cut through the complexity of cross-border B2B payments.
- Businesses can benefit from more competitive foreign exchange (FX) rates.
Simplifying Global Business Payments
For companies that operate internationally, paying vendors and suppliers can often feel more complicated than it should be. Traditional wire transfers, while still common, are sometimes slow, expensive, and not always transparent. On top of that, every country has its own financial systems and preferred payment methods. For a company managing international payroll or supplier invoices, this patchwork of systems can quickly become a burden.
This is the gap the Citi and Dandelion connection is meant to fill. Citi, as one of the world’s leading banks, already offers a broad range of services through its Treasury and Trade Solutions division, helping large corporations manage their finances and working capital. Dandelion, on the other hand, is a fintech company that has built modern payment infrastructure centered on B2B needs, allowing businesses to send money globally with more efficiency.
What makes this cooperation practical is that Citi’s institutional clients don’t need to set up entirely new arrangements. They can use their existing Citi accounts to move funds through Dandelion’s network. Take, for example, a company in India looking to pay a freelancer in Kenya or a supplier in Brazil. Instead of a lengthy, often expensive transfer, they can simply use the local payment method common in that market, such as a direct deposit to a bank account or a popular digital wallet. The process cuts out unnecessary steps, which could make payments both faster and less costly.
Shahmir Khaliq, Global Head of TTS at Citi, emphasized that the focus remains on giving clients payment options that are not only fast but also secure and cost-effective. By teaming up with Dandelion, Citi is able to expand its reach without requiring clients to juggle multiple providers or new platforms. Zohar Melamed, CEO of Dandelion, added that their partnership with Citi is about enabling growth by simplifying how businesses handle global payouts.
In a way, this move reflects a broader shift across financial services. Large, established banks are increasingly partnering with fintech companies, blending their scale and stability with modern, nimble infrastructure. The Citi-Dandelion collaboration is one more example of how the financial industry is gradually reshaping itself to meet the needs of a global, digital-first business environment.
Frequently Asked Questions (FAQs)
Q. What is Citi Treasury and Trade Solutions (TTS)?
A. Citi Treasury and Trade Solutions (TTS) is a division of Citigroup that offers cash management, trade, and securities services to corporations, financial institutions, and public sector organizations around the world.
Q. What does Dandelion do?
A. Dandelion is a payments infrastructure company that specializes in business-to-business (B2B) cross-border payments. It provides a network that allows companies to send money globally using various local payment methods.
Q. How does this partnership help businesses?
A. This partnership helps businesses by simplifying how they pay international suppliers, vendors, and workers. It gives them access to more payment options in different countries, potentially at a lower cost and with faster delivery times, all through their existing Citi relationship.
Q. Is this service for individual Citi customers?
A. No, this service is specifically designed for Citi’s institutional and corporate clients that use its Treasury and Trade Solutions, not for individual retail banking customers.
