NEW YORK - Citigroup Inc. has licensed Wisdom Technologies Corp.'s CFO Strategist software for use by its corporate customers.
The product uses artificial intelligence developed by Pittsburgh-based Wisdom. Corporate treasurers, many of whom maintain as many as 50 banking accounts at several institutions, could use the software to calculate the costs and benefits of various investment or financing strategies.
"In order to evaluate all of the options of funding, investing, and account positioning for a given day, a treasury manager would have to review literally tens of thousands of possible transaction series," said Harold Young of Citigroup's e-business alliance group.
CFO Strategist is designed for fixed-income investments, debt, and cash management decision support. Forthcoming enhancements will include foreign exchange, distributed treasury asset allocation, netting, and forecast management.