Citi Investor Services has launched its Single Event Processing (SEP) technology in North America, bringing real-time transaction capabilities and enhanced operational efficiency to the region. The platform, which was first introduced in select European markets, allows for real-time processing of all global asset-servicing transactions. Citi expects that the majority of its custody flows will operate through SEP technology by 2026.
SEP consolidates Citi’s global and direct custody infrastructure, integrating its network across more than 100 markets, including proprietary direct custody operations in over 63 markets, onto a single client-facing platform. “Whether it is a domestic or the global layer, SEP technology only requires one processing event,” said Amit Agarwal, Head of Custody, Citi Investor Services. “In the process, you can take out all of the friction that fits today in the chain of custody.”
The platform significantly speeds up critical processes. Event creation, which previously could take 12 to 36 hours, now completes in under 45 minutes. Payment processing times have been reduced to less than five minutes, compared to the earlier average of 8 to 12 hours. “These advancements represent more than just substantial improvements; they deliver an exponential enhancement to our clients’ experience,” Agarwal added.
SEP moves away from the slow, manual, and fragmented way asset servicing has traditionally worked. It gives clients real-time insights so they can make decisions faster and with more confidence. By eliminating duplication, handoffs, and reconciliation, the system speeds up processes and reduces errors. It also lets clients meet tighter instruction deadlines, including same-day cut-offs, so funds reach them more quickly.
Following its rollout in European markets and partnerships with International Central Securities Depositories, Citi is now introducing SEP in North America. The bank plans to extend the platform across its global custody network by 2026, emphasizing its commitment to seamless, real-time transaction processing for clients worldwide.