NEW YORK--(BUSINESS WIRE)--Citi Treasury and Trade Solutions has successfully integrated SWIFT global payments innovation (gpi) into Citi’s Payment Flow Manager (PFM). SWIFT gpi is a new service which is transforming cross-border payments by increasing the speed, transparency and end-to-end tracking of payments.
Payment Flow Manager is an online platform designed specifically for Citi’s financial institution clients that provides a direct “window” into Citi’s institutional global funds transfer systems and delivers payment monitoring, management, and reporting features. By adding gpi information to the platform, Citi’s FI clients receive greater visibility into their payments through increased tracking capabilities and can manage risk more efficiently through their payment life cycle.
“Citi is committed to consistently improving our client experience by driving innovation. We’re proud to have played a key role in the gpi initiative – from concept formulation to piloting the service. We were one of the first banks to go live with gpi payments,” said Mark McNulty, Global Head of Clearing and FI Payments, Citi Treasury and Trade Solutions. “This next step of integrating and enriching PFM with gpi data will deliver much greater certainty and transparency through the payment chain – a key requirement of our clients.”
“Citi is one of the key banks on SWIFT gpi, and has been right from the start. The integration of gpi tracker information into Citi’s Payment Flow Manager will undoubtedly give additional distinctive value to their clients. It is a real testimony to the value of gpi to see such a leading financial institution as Citi making gpi an integrated part of its service offering,” said Wim Raymaekers, SWIFT’s Global Head of Banking Market.
Citi transacts with over 1,500 correspondent banks, doing business in more than 160 countries and 140 currencies each day. With a dedicated team of correspondent banking experts around the world, Citi empowers its FI clients with knowledge, training, an extensive global network and infrastructure, as well as unrivalled digital capabilities and efficiency tools.
Citi Treasury and Trade Solutions (TTS) enables 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 the industry's most comprehensive range of digitally enabled treasury, trade and liquidity management solutions.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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