To overcome these obstacles and facilitate its ambitious global expansion strategy, Transsion initiated a transformation project, implementing the following comprehensive solution based on global design principles:
The company created a Global Treasury Center to centralise global settlements and liquidity management. With Citi as a key partner, 234 accounts in 31 currencies worldwide are now managed efficiently, and system integrations in six African countries are underway.
API connectivity with Citi automates end-to-end settlements, enabling seamless payments and real-time global visibility. For smaller local banks without API capability, robotic process automation (RPA) automated collections and reconciliations, reducing manual tasks.
Citi’s Multi-Bank Solution (MBS) provides full visibility over local bank accounts in remote markets, enabling control over third-party payments and enhancing fund tracking. To date, Transsion has achieved visibility over overseas non-Citi accounts in 21 countries, with Burkina Faso and Togo newly added to the list of countries where it can operate third-party bank accounts.
Virtual accounts assigned to buyers enable auto‑reconciliation with in-house ERP and inventory systems, expediting goods shipments and optimising supply chain efficiency.
The company utilises Citi’s post-shipment export financing, which allows drawdowns based on export activities, aligning with Transsion’s trade scenarios to support faster capital allocation for expansion.
Transsion also adopted Citi’s ARDF e-platform for digitalised trade finance, automating the financing cycle, accelerating bank funding and eliminating paperwork.
The solution also includes two layers of automated cash pools; a domestic USD pool in Hong Kong to centralise daily global sales proceeds, and a multi-currency cross-border pool between Hong Kong and China to mobilise intra-group funding, maximising liquidity returns. These solutions centralise cash management, mitigate operational risks, accelerates settlements, reduces treasury costs by over half, and empowers Transsion’s confident global expansion, turning treasury challenges into a strategic asset.
