Citi's Worldlink® Payment Services Expands its Cross-Currency Capabilities
London – Citi Treasury and Trade Solutions (TTS) has significantly enhanced WorldLink® Payment Services' cross-currency payment capabilities. This includes:
- An expanded ACH offering, almost double the number of same day and next day available currencies
- A strengthened exotic currency offering
- An increase of global access to 140 currencies to further enable and support the evolving needs of global clients
Many global clients make recurring low value, high volume payments to key markets. Organizations also need the flexibility to access global markets quickly. Citi has responded to these vital client needs by expanding WorldLink low value cross border offering (ACH) to include India, Mexico and Poland and making available 13 additional funds transfer currencies for same day and / or next day settlement.
Making local currency payments into rapidly developing economies is a key requirement for expanding companies. So that clients can benefit from faster settlement times and more efficient execution, WorldLink has increased the ease of making payments into Malaysia, Haiti and Bermuda.
In addition, WorldLink continues to expand its market-leading and actively managed global footprint, by adding Aruban Florin, Congolese Frank, São Tomé and Príncipe-Dobra and Turkmenistani Manat as new funds transfer currencies and Kuwaiti Dinar as an available funding currency.
WorldLink is the leading payment solution in the marketplace today and is committed to continually improving and developing to meet our clients' evolving needs. Staying ahead of regulatory change, WorldLink has recently introduced developments to ensure SEPA readiness by February 2014 for clients.
Morgan McKenney, Global Head of WorldLink Payment Services at Citi said: "Working with the right provider is vital to managing the many challenges our clients have in operating in a global and dynamic environment and making cross-currency payments effectively and efficiently. At Citi, given the scale, breadth and expertise of our foreign exchange and payments capabilities globally, we can truly work with clients to power their business and enable their global flows."
Karin Flinspach, Head of Payments and Receivables for Europe, Middle East and Africa at Citi added: "WorldLink's capability expansion brings our clients smarter, faster and more efficient cross-currency payments solutions and this innovation is enabled by Citi's global reach, expertise, and network."
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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