Citi and Navan have partnered for a jointly branded travel and expense offering for Citi Commercial Bank cardholders, the companies announced.
The co-branded offering taps the Navan Connect technology announced earlier this year by Navan—the rebranded TripActions—that enables such tools as policy controls and auto-itemization to existing corporate card products. Within Citi, it is a collaboration of Citi’s Treasury and Trade Solutions, which mainly works with large corporate clients, and Citi Commercial Bank to provide a single offering powered by Navan that will also suit midmarket clients. It will go alongside other Commercial Bank offerings such as tools for payments, receivables, liquidity management, foreign exchange and trade, according to Citi.
“The collaboration provides an opportunity for Citi to grow its Commercial Card business by partnering with our Commercial Bank, while also offering travel booking and expense management technology,” Gonca Latif-Schmitt, global head of Citi Commercial Cards, said in a statement.
At the launch, the T&E management system is available only to Citi’s U.S.-based Commercial Bank clients, which represent about $42 billion in annual charge volume at Citi. In total, Citi reports 25,000 global commercial card programs and 7 million cardholders.
Navan’s joint offering with Citi is the latest addition of a T&E offering to a major financial services provider. U.S. Bank, which acquired TravelBank in late 2021, earlier this year announced a combined travel, payment and expense offering for growing midmarket clients built from that acquisition. Financial services and technology company Brex also this year partnered with Spotnana to launch a travel booking service within its Empower platform.
