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Citi: Healing Broken PPE Supply Chains With Streamlined Cross Border Payments

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Preserving trade flows of particular importance in the healthcare sector today, with cross-border B2B payments essential to this effort. to China within only a few hours in order to secure a PPE shipment for healthcare providers. Paving Way For Faster B2B Payments.

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Suppliers Faced With New Friction As More Invoices Get Paid Electronically

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For the receivers of those checks, there’s another major argument in favor of the clunky, manual and insecure payment rail, according to Deluxe Treasury Management Solutions Vice President Gary Cawthorne. Transportation is one industry that has a big problem, another is healthcare — you have the whole issue of delayed payments,” he said.

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B2B APIs Underscore The Need For Speed

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APIs are also very useful for bank customers in defined verticals like real estate and healthcare, that perform specialized transactions frequently. Citi recently made 50 APIs available to business clients, designed to connect easily with treasury software. A slew of current projects illustrates the trend.

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For Insurance, Faster Payments Means Nothing Without Data

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. “We want to offer our customers the widest solution, soup to nuts — that means creation of the remittance data, creation of the payment, reconciliation of the payment, treasury management services, the entire spectrum,” he noted, adding that virtual cards can address all of these needs for insurance firms.

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Building A Faster, Safer Network On The Blockchain

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But they also can be used in the healthcare industry and often in supply chain settings as well, so there [are] lots of interesting stories and use cases there.”. Even for companies that don’t think they are in the financial business, everyone has a treasury and has money coming in and out,” he said. “[You]

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Transcript: Gary Cohn

Barry Ritholtz

Hank Paulson had left to go become treasury secretary. Well 00:39:25 [Speaker Changed] Then, then a week or two later, I think it was within a week or two, that’s when treasury decided they were gonna put tarp money into all the banks, regardless of those that had raised capital or not. We now had the securities business.

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