Citigroup's Treasury and Trade Solutions (TTS) business has added new currencies and expanded its electronic processing capabilities.
The Citi unit will expand its ACH offering, nearly doubling the number of same-day and next-day currencies it supports. TTS has also strengthened its exotic currency service and increased global access to 140 currencies. Citi has also expanded its WorldLink low-value cross-border ACH service to India, Mexico and Poland.
The moves are necessary to serve companies that are expanding into new markets, requiring faster settlement times and efficient execution for payments, Citi says in an Oct. 10 press release.
"Working with the right provider is vital to managing the many challenges our clients have in operating in a global and dynamic environment and making cross-currency payments effectively and efficiently. At Citi, given the scale, breadth and expertise of our foreign exchange and payments capabilities globally, we can truly work with clients to power their business and enable their global flows," says Morgan McKenney, global head of WorldLink Payment Services at Citi, in a release.