Citigroup Provides Financial Institution Clients with Real-Time Foreign Exchange Information Service
Bank Supports Industry-Wide Nostro Data Offering from Cable & Wireless
London & New York, October 11, 2004 – Citigroup® Global Transaction Services announced today that it is offering institutional banking clients access to real-time, multibank, multicurrency Nostro account data through the single log-on industry-wide system developed by Cable & Wireless. This system aggregates transaction data from foreign exchange clearing banks and distributes it, through a centralized secure network, to foreign exchange agents and account holders.
Citigroup’s international branches can now provide foreign exchange transaction details to the Cable & Wireless Real-Time Nostro (RTN) system and offer Citibank’s clients access to their Nostro accounts via the system.
This new capability complements the award-winning CitiDirect® Online Banking platform, which provides clients with a single view and real-time data on any Citibank account, in any currency, in any branch.
“We are committed to using technologies and standards that allow us to deliver value to clients. Providing data through Cable & Wireless Real-Time Nostro is an example of that commitment,” said Conrad Steinmann, Vice President, Citigroup Global Transaction Services.
About Citigroup
Citigroup (NYSE: C), the preeminent global financial services company
has some 200 million customer accounts and does business in more
than 100 countries, providing consumers, corporations, governments
and institutions with a broad range of financial products and services,
including consumer banking and credit, corporate and investment
banking, insurance, securities brokerage, and asset management.
Major brand names under Citigroup's trademark red umbrella include
Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers
Life and Annuity. Additional information may be found at: www.citigroup.com.
About Citigroup® Global Transaction Services
Citigroup Global Transaction Services is a leading provider of integrated
cash management, trade finance, securities and fund services and
commercial card solutions to corporations, financial institutions
and governments around the world. With over US$ 115 billion in average
liability balances, more than US$ 6.7 trillion in assets under custody
and the largest proprietary branch network, Citigroup’s award-winning
operating systems and Internet-based delivery channels enable clients
to manage and monitor working capital and investments more efficiently,
streamline transaction processing cycles, and re-engineer receivables
and payment processes. Citigroup Global Transaction Services provides
clients with access to Citigroup’s full range of capabilities
and solutions along with an on-the-ground presence and in-depth
knowledge of more than 100 local markets. For additional information,
see www.transactionservices.citigroup.com.
Citigroup Global Transaction Services is part of Citigroup's global
corporate and investment banking group, which provides complete
financial solutions to corporations, governments and institutional
investors in more than 100 countries. Award-winning businesses include
corporate and investment banking, sales and trading, transaction
services, commercial finance and insurance products. Additional
information can be found at: www.citigroupgcib.com.
