Citi’s Treasury and Trade Solutions (TTS) announced that it has expanded its Citi Payment Insights offering to more than 20 new markets, making it available in more than 70 markets. Launched in July, Citi Payment Insights provides real-time payments visibility, including processing status and 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.
“Citi recognizes the need to deliver transparency in cross-border payments to clients,” said Javier Orejas, head of banking for EMEA and the Americas at International Air Transport 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.”
In addition to expanding to new markets, the solution is now available to all client segments across corporate, public sector and financial institutions (FIs). New global payments innovation (gpi) branches have also been enabled, totaling 25 major branches, which covers more than 80 percent of Citi’s SWIFT cross-border traffic globally.
“The user experience is really good,” said Stephen Darnley, corporate treasurer at IATA. “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.”
Manish Kohli, global head of payments and receivables at Citi TTS, said, “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.”