Innovation In Action
Increased automation, reliability, efficiency and security with WorldLink® Payment Services
For over 50 years, an International Non-Profit Organization has negotiated settlements for compensation claims and disbursed these funds to individuals and organizations worldwide.
Since their many beneficiaries live in different countries around the world, but receive their funding in a single currency, the non-government organization sought an efficient way to disburse a massive volume of payments in multiple currencies. Besides seeking to improve controls via access to a straight-through payment capacity, the client also needed to ensure timely and accurate payments.
Since these critical claim payments are often a sole source of income for their recipients, speed and accuracy are critical. The client trusted Citi to find a solution, having already enjoyed the benefits of a seven-year global financial services relationship.
To empower the client to carry out its valuable critical mission efficiently and securely, Citi provided a low-cost solution, using a single host-to-host file format to deliver payment transactions into local clearing systems in every currency required. The transition was invisible to payment beneficiaries, who can now choose from multiple payment options: wire transfer, remote checks and, for U.S. recipients, ACH.
By using a file-based WorldLink® Payment Services solution, the organization's lean and efficient office staff has been able to quickly and automatically manage the processing of massive payment volumes in a very small time frame. Partnering with Citi for its payment needs, the client ensured reliability, efficiency and security for itself and its beneficiaries.