Citi has announced a collaboration with Navan to introduce a comprehensive travel and expense system specifically designed for Citi Commercial Bank (CCB) cardholders. The partnership aims to provide a seamless digital experience for Citi Commercial Bank cardholders through Navan Connect's innovative card-link technology, integrating Navan's all-in-one solution with Citi's commercial card solutions.

According to a press release by Citi, this offering will be the industry's first complete end-to-end corporate Travel and Expense (T&E) management collaboration of this scale. However, the system will initially be available only to U.S.-based Citi Commercial Bank clients.

Citi's Treasury and Trade Solutions (TTS) business is working closely with Citi Commercial Bank to provide a unique solution tailored for mid-market clients. Citi currently serves a vast network of 25,000 global commercial card programs and 7 million cardholders worldwide, with an annual charge volume exceeding $42 billion in the U.S.

Gonca Latif-Schmitt, Global Head of Citi's Commercial Cards, expressed excitement about the collaboration, stating, "Citi and Navan are now well-positioned to deliver a more efficient way to manage travel and expense programs, with a platform that's easy to use for both travelers and finance teams." Latif-Schmitt also highlighted the opportunity for Citi to grow its Commercial Cards business through this partnership, while also offering travel booking and expense management technology.

Navan, known for its travel and expense solutions, aims to simplify the process of booking, monitoring, and handling business travel and expenditure. The company utilizes cloud technology, mobile applications, and artificial intelligence to align business requirements with contemporary standards.

Ariel Cohen, CEO and co-founder of Navan, expressed satisfaction with the partnership, stating, "This agreement validates not just Navan's technology but also the value of the real-time visibility and control over spend that Navan offers finance teams and traveling employees." Cohen added, "Today, Navan and Citi are helping to make travel and expense management easy for Citi Commercial Bank clients."

While the collaborative travel and expense system is currently limited to U.S.-based Citi Commercial Bank clients, the partnership between Citi and Navan provides an opportunity for growth in Citi's Commercial Cards business and offers enhanced technology for travel and expense management.