LONDON--(BUSINESS WIRE)--Citi (NYSE: C) has launched a new Citi Fleet Card that utilizes innovative technology to offer a mobile-first experience that has the potential to transform the fuel card market.
The solution combines a contactless-enabled card with an award-winning mobile app by The Miles Consultancy. It can be used anywhere that Visa/Mastercard is accepted and allows seamless tracking of mileage, receipts and reports. The solution is currently available in 24 countries across the UK and Europe; the app can be downloaded from Google Play and the Apple App Store.
Trudy Curtis, EMEA Head of Commercial Cards at Citi Treasury and Trade Solutions, said: “Traditionally, company car drivers could only choose from closed-loop fuel networks, meaning that each fuel card could only be used with a single fuel brand. Our solution liberates them from the hassle of carrying multiple fuel cards, and in the process not only saving time and money but also reducing fuel consumption by avoiding unnecessary detours searching for a specific fuel pump.”
Paul Hollick, Managing Director at The Miles Consultancy, said: “We are delighted to partner with Citi to offer an international fuel card that provides complete visibility and control across multiple markets. The Citi Fleet Card eliminates manual and error-prone consolidation of expenses, leading to significant reporting gaps, reimbursement delays and fraud. “By leveraging our mobile app-based user interface, the Citi Fleet Card seamlessly enables receipt capture and automated mileage reconciliation.”
One of the first Citi clients to go live with the solution, was the UK Salon division of Kao EMEA.
Maria Yanev, Director, Total Reward Human Capital Development, EMEA, Kao, said: “2020 gave us the opportunity to look at a competitive and sustainable fuel card solution for our UK drivers from our European Beauty Salon division, with reliable everyday support and minimal administrative burden. The implementation of the change from our previous provider to the new Citi Fleet Card solution went really well and we felt supported throughout the process.”
The Citi Fleet Card offers a simple user experience, with an easy-to-use app that prompts drivers to enter mileage data rather than requiring them to input it at a point-of-sale device when paying for fuel. The app has GPS-based tracking so when a driver uses their vehicle for business (as opposed to personal) mileage, they can pre-set times on the app to record their journey, eliminating paperwork associated with documenting business travel. Cardholders benefit from 24/7 access to Citi’s award-winning, best-in-class customer service and account specialist team.
For corporates, the Card delivers centralized automated reporting that uses data mining to combine multiple data sources in a single management dashboard for fleet oversight, VAT reconciliation, and payroll files. Information management tools can be seamlessly integrated into clients’ ERP systems. Program managers have access to flexible controls for authorizing card users, real-time card blocking, PIN reset and transaction notification. In addition, fleet managers no longer have to deal with multiple fuel card providers to gain coverage across the United Kingdom and Europe, bringing significant administrative savings.
-Ends-
About Citi Treasury and Trade Solutions:
Citi Treasury and Trade Solutions (TTS) enables our clients' success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the industry's largest proprietary network with banking licenses in over 100 countries and globally integrated technology platforms, TTS continues to lead the way in offering the industry's most comprehensive range of digitally enabled treasury, trade and liquidity management solutions.
About Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
