Citi and Navan Launch First Complete Travel and Expense System for Citi Commercial Bank Clients
- The strategic agreement combines Navan's all-in-one solution and Citi's commercial card solutions.
- The system will initially be available only to U.S.-based Citi Commercial Bank clients.
- Citi aims to grow its Commercial Cards business through this collaboration.
- Citi supports over 25,000 global commercial card programs and 7 million cardholders worldwide.
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Strategic agreement combines modern, end-to-end T&E experience with the power and reach of the world’s largest proprietary banking network
The strategic agreement, which combines Navan’s all-in-one solution and Citi's leading commercial card solutions, leverages the innovative card-link technology of Navan Connect to create a seamless digital experience for Citi Commercial Bank cardholders. As the industry’s first complete end-to-end corporate Travel and Expense (T&E) management collaboration of this scale, the system will initially be available only to
Citi’s Treasury and Trade Solutions (TTS) business is collaborating with Citi Commercial Bank to deliver a differentiated offering for Citi’s mid-market clients. This new solution is complementary to Citi’s existing product offering for Commercial Bank clients, which includes leading solutions for Payments, Receivables, Liquidity Management, Foreign Exchange and Trade.
Gonca Latif-Schmitt, Global Head of Citi’s Commercial Cards, said, “Citi and Navan are now well-positioned to deliver a more efficient way to manage travel and expense programs, with a platform that’s easy to use for both travelers and finance teams, while aiming to alleviate the challenges that sometimes come with expense reporting for cardholders. This collaboration provides an opportunity for Citi to grow its Commercial Cards business by partnering with our Commercial Bank, while also offering travel booking and expense management technology.”
Citi supports more than 25,000 global commercial card programs and 7 million cardholders worldwide, with more than
“This agreement validates not just Navan’s technology — but also the value of the real-time visibility and control over spend that Navan offers finance teams and traveling employees,” said Ariel Cohen, CEO and co-founder of Navan. “Before Navan Connect, banks were limited to offering their customers disparate travel and payment solutions. Today, Navan and Citi are helping to make travel and expense management easy for Citi Commercial Bank clients.”
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of
Additional information may be found at www.citigroup.com | Twitter: @Citi | LinkedIn:www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi
About Navan
Navan is the all-in-one solution that makes travel and expense easy so you can focus on being there, not getting there. Say goodbye to spending hours on the phone trying to change your flight or saving stacks of receipts to manually input expenses. From EAs and finance teams to travel managers and employees, Navan empowers people to focus on the things that matter most to them — all while providing companies with real-time visibility, savings, and control. Learn more at navan.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20231019169667/en/
Media Contacts
Sarah Mac Rory, Communications for Citi Commercial Bank
sarah.macrory@citi.com
+44 207 508 3822
Nina Das, Communications for Treasury and Trade Solutions
nina.das@citi.com
+1 212-816-9267
Kelly Soderlund, Senior Director of Global Public Relations
kelly@navan.com
Source: Citi
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