Citigroup Launches U.S. Dollar Express Wire Service in Asia
Expedited delivery of intra-Asia funds responds to demand for faster, more convenient U.S. dollar payment solutions
SIBOS, October, 2006, Sydney, Australia Global Transaction Services, a business of Citigroup Corporate and Investment Banking, announced that its U.S. Dollar Clearing Services has launched a new U.S. Dollar Express Wire Service that provides rapid execution of intra-Asia U.S. dollar payments.
The new Citigroup cash management service offers expedited delivery to beneficiary's accounts of intra-Asia U.S. dollar payments, responding to the demand for fast, convenient and efficient U.S. dollar payment services across the region.
"As a major global bank with an on-the-ground presence in every country in Asia, we have seen tremendous growth in the demand for U.S. dollar payments as the result of improved trade relationships between countries," said Akash Rathke, Head of Global Payments for Asia. "Banks that can speed the pace of payments for their customers will play a key role in, and benefit from the expansion of trade in the region."
U.S. Dollar Express Wire from Citigroup is being introduced initially in Greater China and then will be rolled out across the region.
Express wire transactions, like other payment transactions, can be tracked in real-time online through Citigroup's Payment Flow Manager offering.
Citigroup (NYSE: C), the leading global financial services company has some 200 million customer accounts and does business in more than 100 countries, providing 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, and wealth management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com
Citigroup Corporate and Investment Banking
Our Corporate and Investment Banking group achieves the extraordinary for our clients around the world. No financial institution is more committed to understanding and advancing the goals of its clients – our diverse and talented staff in some 100 countries advises companies, governments, and institutional investors on the best way to realize their strategic objectives. We create solutions for and provide the broadest possible capital and market access to thousands of issuer and investor clients, and no institution better executes the increasingly complex payment and cash management solutions required in today's global economy. Core business lines under Citigroup Corporate and Investment Banking include Global Capital Markets, Global Banking and Global Transaction Services.