Citi Supports an EMEA Government’s Global Cross Border Payment Flows Across Central Government Departments

The Challenge

In order to facilitate global cross border payment flows across almost all centrally funded Government Departments, the Authority was seeking a long-term arrangement from a provider that was resilient, secure and able to move with future industry changes whilst providing ongoing value for money and elevated level of partnership.

The services required included:

The provision of accounts for Central Government Departments
Access to the supplier’s electronic banking service to monitor and control access to the accounts, view transactions, obtain reports, and submit payment instructions
The ability to make and receive payments using all standard payment methods
Specific reporting/data services requirements
Liquidity management services
Robust Servicing capability, acute incident management processes and proven continuous improvement

The Solution

After a complex 2-year procurement process, Citi was able to successfully secure an 8-year mandate with the possibility of further extension, reinforcing the depth of Citi’s Services relationship and the strength of our cross-border payment capabilities.

The Government’s cross border payments are supported through Citi’s flagship cross currency payments solution Worldlink. WorldLink fully supports their overseas payment needs including salary, pension, benefits, and supplier payments.

The complexity of this deal required the involvement of 120+ colleagues across Services, Banking, Markets, Legal, HR, Technology, Finance, Tax, Insurance, Risk, InfoSec and Real Estate.

The Result

As a result, the Government will seamlessly carry out global cross border payments with Worldlink allowing Citi to process $3Billion+ FX flows, 10MM+ transactions in 100+ currencies annually.

In addition, Citi will fully support the overseas payment needs of Governmental Departments and will prioritise the deployment of WCAG 2.2 (Web Content Accessibility Guidelines), which will improve accessibility for users with cognitive or learning disabilities and users with low vision through our CitiDirect platform.

The service also provides visibility, transparency and tracking to beneficiaries and pensioners through the deployment of Citi’s Digital Beneficiary Advisory Services. Likewise, through Citi’s digital wallet solution, we will ensure financial accessibility, allowing near instant settlement in 19 currencies across 100 markets.