Citigroup Inc (NYSE:C) reported the launch of Citi Velocity Clarity, a broad analytics and data platform utilizing Big Data technology offered via an integrated suite of innovative online functionalities. This platform analyzes and gathers data across numerous Citi CFS offerings and will be expanded to comprise the Investor Services content in the upcoming period.
Content can be gathered into Clarity from different Custody and Fund Services setup of Citigroup, third party data providers and customers’ internal data. The platform provides unique self-service customization features such as data on demand through an application programming interface that offers flexibility in linking big data content by utilizing dynamic analytical and calculation engines, remote client data warehouses and business intelligence tools.
Inferring from this construct, customers can seamlessly navigate through content customized to their needs by utilizing a series of dashboards analyzing and monitoring data pertaining their investments including valuation, holdings, portfolio analysis, counterparty risk, net asset value, trading flows and country exposures.
Sanjiv Sawhney, who is the Global Head of Custody & Fund Services, said that they are delighted to report this thrilling new service as a sustained demonstration of their underway investment in Citigroup’s Custody & Fund Service offering internationally. Clarity was intended as an innovative capability, which permits customers to explore through investment data in a smooth manner without the timeframe and expense usually needed to implement a full-data warehouse.
The response from early users has been extremely promising with customers appreciating the design, speed, ease of navigation and overall user experience. Clarity has been offered to a core group of pilot clients in this year. The platform launch will be continuing all over the remainder of this year with Custody & Fund Service international accounting customers. Additional client divisions and content will be launched next year.
In the last trading session, the stock price of Citigroup gained 0.28% to close the day at $68.45.