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| THE TRAILBLAZERS |
As transactions increasingly move online, banks will see growing competition from fintechs, technology and telecommunication companies.
Payments is the new battleground in transaction banking, so having someone with deep knowledge of the industry is essential. That makes Citi’s head of treasury and trade solutions, EMEA, Ebru Pakcan invaluable.
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Ebru Pakcan |
Between 2008 and 2011 Pakcan was head of payments for EMEA at Citi and between 2012 and 2016, she managed the bank’s global payments and receivables business from New York. Today, Pakcan is head of treasury and trade for EMEA and has more than 800 people reporting to her.
“In payments, and transaction banking more broadly, we see exponential growth in technology and digitization,” says Pakcan, “but part of this evolution means working with some of the newer, more nimble players out there.
“If we can serve our clients better by collaborating with other companies, this is something we will look into. The industry cannot work in silos.”
Pakcan oversees work carried out in Citi’s Innovation Labs in Dublin and Singapore. Within the labs, the bank not only develops its own state-of-the-art technology to keep up with the new players but also provides an incubator for new fintech firms that may complement Citi’s business.
Imperial College
She also leads Citi’s partnership with Imperial College in the UK. Together, they have launched the Digital Money Index, which tracks countries’ readiness to adopt digital payment solutions. The index is in its fifth year and provides information to regulators and financial institutions globally.
“Artificial intelligence, machine learning, application programming interfaces etcetera are all creeping into the corporate world; and businesses, banks and governments will need to adapt,” she says. “As they adapt, their needs will change, so we need to be flexible as well.”
Pakcan has been active in Citi’s talent development and diversity agenda – something increasingly important in transaction banking. In particular, she is working with senior colleagues globally to create a formal women’s network specifically designed for the treasury and trade solutions business.
