Transcend, a leading provider of liquidity, funding, and collateral optimization solutions, welcomes Citi as their latest investor.

The investment was made through Citi’s Strategic Investments arm, which invests in innovative fintech companies globally that are strategically aligned to Citi’s institutional businesses.

Citi’s funding will continue to support Transcend’s global roll-out of its solutions including its groundbreaking optimization technology. Citi is the third global bank to invest in Transcend, which was formed in 2013 by Bimal Kadikar, along with other institutional investors.

Additionally, a long-term business agreement will enable Citi as a client to significantly enhance the efficiency of how it deploys cash and collateral across its global network.

The Transcend solution harmonizes and integrates activity across Bi-lateral, Cleared, and Triparty collateral requirements and allows allocation of the best collateral.

“The industry-wide solutions that Transcend is developing have the promise to dramatically shift the efficiency and profitability of the entire industry and we’re glad to play our part in facilitating these advances,” said Alain Verdickt, Head of collateral optimization at Citi.

In the last two years, Transcend has seen significant growth across the global banking community. The company has added additional board members, expanded their European branch, and added a number of industry & technology experts to its global team.

“Transcend is excited to welcome Citi as an investor and a client,” said Bimal Kadikar, Founder and CEO of Transcend. “Additionally, we are delighted that Citi’s funding will allow us to expand our solutions, which are already yielding tremendous savings for the industry.”

The use of collateral has moved beyond operations and is now being seen as a strategic enterprise-wide business opportunity. The streamlining of collateral and funding is already helping financial institutions save tens to hundreds of millions of dollars annually. Transcend continues to be at the forefront of these industry innovations with its cross-triparty collateralization and other solutions for institutional market participants.

Source: Transcend