Non-bank Financial Institution Casebook

10 | The Problem With strong business growth in recent years, Ping An saw significant increase in its payment volumes. A new challenge arose for the new-age insurer — to manage its payments timely and efficiently. To optimize working capital, Ping An sought full visibility of its cash positions and transaction statuses in real time. As their insurance business was split into four subsidiary entities, they sought a banking solution that could provide a single connectivity across all four entities. The Solution Partnering with Citi, Ping An implemented a suite of Application Programming Interfaces (APIs) that enabled the insurer to retrieve its account balance and statements in real time. When Ping An triggers this on their demand, updated account information is received in Ping An’s own treasury management system directly, providing a high level of visibility across its accounts, without logging into the CitiDirect banking portal. This allowed Ping An’s treasury to make swift and informed decisions around working capital management throughout the day. Ping An China Full Visibility of Cash Positions and Transaction Statuses in Real-time Ping An is a diversified financial services conglomerate with businesses in insurance, banking, asset management, brokerage and investment business. The company provides financial products and services under an integrated financial business model of “one customer, multiple products, and one-stop services.” Across their broad digital ecosystem, they have more than 500 million internet users and 200 million retail customers. PING AN