Citigroup Launches Payment Flow Management Services in Asia
Service Allows Financial Institutions to Monitor and Manage USD Payments in Real-Time
Hong Kong, January 31, 2005
– Citigroup Global Transaction Services announced the launch
of Payment Flow Management Services, a suite of new services that
enable financial institutions and organizations to get information
and reports in real-time on their USD payments through Citibank’s
U.S. Dollar Clearing Services.
In the first offering of its kind, clients can monitor in real time their payment instructions as they flow through the global payments processing systems of Citigroup. Via online access, clients can get up-to-the-minute status of payments, a significant change from the end of day statements other banks deliver. Clients can receive their payment flow information via Citigroup’s award-winning web-based delivery platform, CitiDirect® Online Banking, or SWIFTNet Browse.
This new suite of Payment Flow Management Services comprises web-based tools that allow clients to monitor payments in real-time, prioritize payments, monitor balances and create custom reports. This service is available in all locations and is targeted for clients with significant USD payment volumes.
“The service allows clients to track where their USD payment is as it moves through our system,” said Eileen Dignen, Director of Global Payments for Citigroup Global Transaction Services. “With this level of transparency, clients can better manage their treasury and liquidity. Payment Flow Management Services gives them enhanced and real-time information about their funds transfers, improving their capital markets and trade related businesses – and ultimately providing better service to their customers.”
“We are extremely proud to be the first in the market to offer this type of service to our clients,” Anthony Nappi, Cash Management Region Head and Chief Operating Officer for Citigroup Global Transaction Services in Asia Pacific. “This offering is a testimony to our commitment to bringing innovative and superior services to our clients,” he concluded.
Citigroup (NYSE: C), the preeminent global financial services company with some 200 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup’s trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers Life and Annuity. Additional information may be found at www.citigroup.com.
About Citigroup Global Transaction Services
Citigroup® Global Transaction Services is a leading provider of integrated cash management, trade and securities services for corporations, financial institutions, intermediaries and governments around the world. With over $ 138 billion in average liability balances, more than $ 7.86 trillion in assets under custody and the largest proprietary branch network, Citigroup’s award-winning operating systems and Internet-based delivery channels enable clients to manage and monitor working capital and investments more efficiently, streamline transaction processing cycles, and re-engineer receivables and payment processes. Citigroup® Global Transaction Services provides clients with access to Citigroup’s full range of capabilities and solutions along with an on-the-ground presence and in-depth knowledge of more than 90 local markets. For additional information, see www.transactionservices.citigroup.com.
Citigroup Global Transaction Services is part of Citigroup's global corporate and investment banking group, which provides complete financial solutions to corporations, governments and institutional investors in more than 100 countries. Award-winning businesses include corporate and investment banking, sales and trading, transaction services, commercial finance and insurance products. Additional information can be found at: www.citigroupgcib.com.