The new technology reduces wait times from more than a day to minutes.
Citi Investor Services rolled out Single Event Processing (SEP) technology, which promises real-time transaction processing and improved efficiency, in North America. This platform, which was already unveiled in some European markets, enables real-time processing of all global asset-servicing transactions, with the majority of Citi’s custody flows expected to utilize SEP by 2026.
SEP unifies Citi’s global and direct custody infrastructure, seamlessly integrating its extensive network across more than 100 markets, including proprietary direct custody in over 63 markets, onto a single platform for clients.
“Whether it is a domestic or the global layer, SEP only requires one processing event,” says Amit Agarwal, Head of Custody, Citi Investor Services, highlighting SEP’s core advantage. “In the process, you can take out all of the friction that fits today in the chain of custody.”
SEP dramatically accelerates key processes: event creation now takes less than 45 minutes, down from 12-36 hours, and payment processing completes in under five minutes, compared to an average of 8-12 hours previously.
“These advancements represent more than just substantial improvements; they deliver an exponential enhancement to our clients’ experience,” Agarwal adds.
Moving beyond the traditionally manual, fragmented, and slow processes of asset servicing, SEP empowers clients with real-time insights for timely, smarter, and better-informed decision-making. These enhanced efficiencies and reduced delays result in faster access to funds and improved accuracy, as they eliminate duplication, handoffs, and reconciliation. Furthermore, SEP facilitates tighten instruction deadlines, including same-day cut-offs.
Following its initial introduction in select European markets and in collaboration with International Central Securities Depositories, Citi is now scaling SEP globally. The technology is currently rolling out in North America and is slated for expansion across the rest of Citi’s custody network by 2026.
