Citi Uses Artificial Intelligence and Machine Learning In Launch Of Citi® Smart Match

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Citi Uses Artificial Intelligence and Machine Learning In Launch Of Citi® Smart Match
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Citi’s Treasury and Trade Solutions has entered into astrategic partnership with HighRadius Corporation, a software company specializing in cloud-based integrated receivables to launch Citi® Smart Match. This collaboration comes following strategic investment in HighRadius Citi’s venture capital arm Citi Ventures announced in February.

Leveraging HighRadius’ proprietary artificial intelligence (AI) and machine learning (ML) technology in combination with Citi’s own proprietary assets, the Citi Smart Match solution will dramatically increase the efficiency and automation of the cash application process of matching open invoices to payments received for Citi’s corporate clients.
 
The Fintech/Banking Trend
The strategic investment from Citi Ventures in February and subsequent collaboration being announced this week reflects a broader a trend and a massive wave of investment in Fintech among US banks today. According to a CB Insights report published this past February, “since 2012, the top 10 US banks by total assets have participated in 81 deals to fintech startups, totaling nearly $4.1B in disclosed funding.” 
See the press release below

Citi Partners with Fintech HighRadius to Launch Citi® Smart Match

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