No report card required here, for we are describing is a remarkable achievement, one that has been accomplished only once before in the last nine years of these awards, a decade at the top of the tree and one of our gold plaques.
It has to be said that in 2011 when we gave the first award to Pulse we saw a very competitive field, meaning it was likely to be challenged from many different directions. Those challenges did indeed come, but all have been seen off by what remains the ultimate solution – one that simply refuses to stand still and is also looking for a new problem to solve – be it jurisdictional, workflow, or technology derived.
Back in 2011 in the first write up, we described Citi’s Pulse as “an exposure management tool that allowed users of all sophistications to interact with it”. In 2012 as Pulse was more closely aligned with Velocity, we noted the increased functionality and content this provided and observed, “It is the most flexible, intuitive tools for corporate treasuries.”
Underpinning both of those awards was something that has only become fashionable with many banks over the past three or four years – Pulse is a workflow solution first and foremost. More than that, it is the ultimate solution for the corporate treasury.
There is a real challenge, when describing a “Decade” Award in trying to pick out the important aspects of the service – otherwise the write up will go on for pages and pages. For Pulse the highlights for us would be the exposure management tools, especially the graphics and functionality therein; the order functionality, which
provides corporates with more control over how, where, when and by whom their hedges are executed; the centralised and decentralised treasury models available; the Gateway connectivity solution, the bank’s STP solution; and the detailed post-trade reporting and blotter solutions.
We should also mention that all of this is done not only on a global or regional scale, but in more than 80 individual countries where solutions have been adapted for the local rules and regulations. Just in the last year alone Pulse has added functionality in some shape or form for (deep breath); Bangladesh, Brazil, China, Colombia, Ecuador, Egypt, Hungary, India, Japan, Lebanon, Malaysia, Mexico, Pakistan, Peru, Poland, Singapore, Sri Lanka, Thailand and Vietnam. Just in 2019.
Probably the best indication of how good Pulse is can be found in the proprietorial mood here at Profit & Loss, because we feel we have been part of that journey over the past decade. We must have written this somewhere before, but the fact is Citi’s Pulse is the ultimate corporate solution – not only because of its huge breadth of products and services, but because no matter at what level the treasury is in terms of its experience with FX markets, Pulse has a solution to help guide them safely through what can be a tricky world.