Citi Unveils Innovative Payment Solutions to Elevate Financial Institution Client Experiences
- RemoteUA
- Oct 6, 2023
- 2 min read
Citi Treasury and Trade Solutions has unveiled a suite of four payment solutions for its Financial Institution (FI) clients, all designed to enhance the user experience, reports Businesswire. These solutions provide new capabilities with minimal implementation effort or technology development.
This new range of features aims to swiftly and easily enhance FI offerings, with a focus on improving the client experience. The enhancements encompass:
Expanding Citi's 24/7 USD Clearing for FIs to enable payments to both companies and individuals. In addition to bank-to-bank transfers, FIs can now facilitate commercial payments on behalf of their retail and corporate clients. Since its launch in late 2022, Citi has gained over 100 FI clients using its 24/7 USD Clearing service.
Introducing Confirmed Value Transfer (CVT), providing upfront transparency on deducted fees when multiple parties are involved in processing a USD cross-border payment. CVT standardizes and offers sending institutions a clear view of downstream deductions, thereby enhancing transparency and the overall client experience.
Enabling payments in over 70+ currencies from a single USD account, allowing clients to significantly broaden their currency processing capabilities in a cost-effective manner.
Offering access to Swift Go: Citi can now process payments via Swift Go upon request from FI clients. This allows clients to access Swift Go benefits without the need for additional development or implementation on their part.
Will Artingstall, Global Co-Head of Cross-Border Payments at Citi Treasury and Trade Solutions, emphasized the commitment to assisting FI clients in achieving rapid digital transformation and delivering next-gen experiences to their end customers.
Dawid Janas, Global Head of FI Payments and Clearing at Citi Treasury and Trade Solutions, expressed satisfaction with these solutions, highlighting their role in improving client capabilities, reducing costs, and enhancing speed and transparency while ensuring simplicity and ease of adoption, scalability, and an immediate impact on the end customer experience.
