Citi® Payment Insights Now Available in 70+ Markets
Solution capabilities extended to the financial institutions client segment
New York, NY - Citi’s Treasury and Trade Solutions (TTS) has expanded its Citi® Payment Insights offering to over 20 new markets, totaling a footprint of more than 70 markets. Citi Payment Insights provides real-time payments visibility, including processing status, processing timelines, charges deducted across correspondent banks, the amount credited to the beneficiary, and the ability to action payments on-demand via its electronic banking platform, CitiDirect BE®.
Since its initial launch in July 2018, the solution has been rapidly expanded to include new markets, branches, segments and channels:
- New Markets – Market footprint expanded from 50 to 70+ markets
- New gpi Branches Enabled – 25 major branches, covering 80+% of Citi’s SWIFT cross border traffic globally
- New segments - Now offered to financial institutions. Citi Payment Insights is available to all institutional client segments across corporates, public sector and now financial institutions.
- New Channels – Piloting the delivery of enhanced status updates via CitiConnect® for Files and APIs. This design is based on an industry standardized, bank agnostic specification, which includes ISO XML and MT199 formats, to benefit clients across all segments.
“Citi recognizes the need to deliver transparency in cross border payments to clients,” said Javiar Orejas, Head of Banking EMEA and the Americas at International Air Transportation Association (IATA). “Citi Payment Insights provides a standardized and unique experience for payments worldwide and contains features to eliminate manual processes thereby delivering financial benefits to corporates. Citi’s offering goes beyond any other offerings I have seen in the marketplace thus far.”
Stephen Darnley, Corporate Treasurer at IATA, said, “The user experience is really good. The product is simple to use, very intuitive, and is delivering the kind of ease and convenience that everybody expects in the modern app driven world”. For IATA’s perspectives on Citi Payment Insights, please access this video https://www.citi.com/tts/sa/videos/citi_iata_partnership.html
“We have expanded the Citi Payment Insights offering to provide global consistency across more markets, segments, and channels to give our clients an optimal user experience and to help them to succeed in the rapidly changing digital economy. To achieve this, we are equipping clients with digital tools to resolve their most common needs instantly. This reduces delays, friction, and costs all within a comprehensive, convenient and secure solution,” said Manish Kohli, Global Head of Payments and Receivables, Citi Treasury and Trade Solutions.
Citi Treasury and Trade Solutions (TTS) helps enable our clients' success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the industry's largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms, TTS continues to lead the way in offering a comprehensive range of digitally enabled treasury, trade and liquidity management solutions.