Citi unveils 4 payment solutions for financial institutions
By Delisha Fernandes
Citi Treasury and Trade Solutions has launched a set of four payment solutions for Financial Institution (FI) clients, which are designed to improve the client experience for their end users.
With this, Financial Institution clients will now have access to new capabilities — each of which can now be used with low or no implementation work or technology build.
“We are committed to help our FI clients grow and succeed by providing fully embedded solutions that empower them to more rapidly drive digital transformation, delivering next-gen experiences to their underlying clients,” said Will Artingstall, Global Co-Head of Cross-Border Payments at Citi Treasury and Trade Solutions.
This new set of functionalities is designed to broaden, expand and improve (from a client experience perspective) FI offerings quickly and easily. It includes:
- Extending the capabilities of Citi’s 24/7 USD Clearing for FIs to include payments to companies and individuals. With this feature, in addition to bank-to-bank payments, FIs are now able to make commercial payments (payments processed on behalf of banks’ underlying retail and corporate clients).
- Confirmed Value Transfer (CVT), allowing for transparency on associated deducted fees ahead of initiating a transaction when there are multiple parties involved in processing a USD cross-border payment.
- Ability to initiate payments in over 70+ currencies from a single USD account, allowing clients to significantly expand their currency processing capabilities for their customers in a cost-efficient manner.
- Access to Swift Go: Citi can now process, upon FI clients’ requests, payments via Swift Go, Swift’s recent payments service. This allows clients to access Swift Go benefits without any further build or implementation on their end.
“This new set of solutions aims to improve current capabilities for clients, and has been designed to enhance their client experience, lower costs, and increase speed and transparency as well. We are pleased to help our clients decrease complexity provided through these kinds of solutions, while remaining laser-focused on ease of adoption, scalability and immediate impact on the end customer experience,” said Dawid Janas, Global Head of FI Payments and Clearing at Citi Treasury and Trade Solutions.
Citi Treasury and Trade Solutions (TTS) helps clients’ by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions, and public sector organisations across the globe.
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