Citi’s WorldLink Payment Services expands cross currency offering to Africa
10-01-2018 12:00:00 | by: Bob Koigi | hits: 1729 | Tags:

Citi’s Treasury and Trade Solutions (TTS) has expanded its WorldLink® Payment Services (WorldLink®) cross-border ACH capabilities to 60 countries.

WorldLink® offers a simple, global and digital cross-currency payments solution with service offered across a range of payment options in 135 currencies and 195 countries among them in Africa.

“We are focused on delivering the power of Citi to our clients by building integrated global solutions that connect our clients to every part of our continuously expanding global payments network in an efficient and consistent manner,” said Manish Kohli, Global Head of Payments and Receivables, Citi Treasury and Trade Solutions. "This expanded capability will offer clients the ability to participate in commerce in new markets, through low cost payment options delivered through digital channels.”

Citi has expanded WorldLink® functionality to enable users to send cross-border ACH payments into ten additional markets in the Europe, Middle East and Africa (EMEA) region. In addition, nine cross-border ACH corridors are in the advanced stages of development for planned delivery in early 2018. Once implemented, this will allow WorldLink® users access to file based cross-border ACH solutions in a total of 34 currencies and 69 countries. WorldLink® offers an unparalleled solution delivering cost efficiencies, automation, consistent reporting, robust security, and compliance with evolving and complex regulatory requirements.

Nick Pedersen, managing director, EQ Global commented: "Embracing and leveraging the smartest, most efficient cross-currency payments solutions is fundamental to powering our business. Citi's consistent efforts in developing best in class cross-border capabilities support Equiniti and help us sustain our competitive advantage”.

WorldLink®, Citi’s flagship institutional cross-border payments solution, leverages the latest technology and serves over 3,500 clients by processing over 50 million payments a year, cumulatively valued at $250 billion into over 195 countries. WorldLink® uses an extensive network built upon Citi’s on-the-ground branch presence which provides direct access to approximately 250 local and regional clearing systems.

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.

www.citibank.com