Citi is working to improve the cross-border payments process for institutions.
In Brief:
It has released a single electronic platform for payment documents.
This could reduce the time of overseas transactions by days.
The bank is investing heavily in simplifying payment and FX activities for clients.
What does this mean?
Global Head of Treasury and Trade Solutions (TTS) at Citi, Shahmir Khaliq, says: “Our ultimate objective is to create frictionless payments that can be delivered electronically and uniformly, 24/7, to any country, via any channel in any currency. This new service brings us a step closer to that goal.”
