Citi Rewires Global Payments Through Single Swift Connection
Citi now enables its bank clients to access multiple cross-border instant payment markets through a single account structure, the bank said in a Tuesday (Sept. 29) press release. This solution also eliminates the need for these bank clients to have separate local banking relationships, bilateral agreements or local technical infrastructure, according to the release. Citi’s offering operates on…
Citi has introduced a solution that allows its bank clients to access multiple cross-border instant payment markets through a single account structure, eliminating the need for separate local banking relationships or technical infrastructure. This offering operates on the Swift payments scheme and is enabled through Citi's Global Clearing network and WorldLink Payment Services.
According to Citi, this solution enables bank clients connected to Swift to access real-time payment networks through their existing Swift connection, enhancing speed, transparency, and reach while meeting evolving client expectations. The collaboration with Swift aims to provide a faster, more transparent, and more predictable cross-border payments experience, with full-value transfers and end-to-end visibility into international payments.
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