Citigroup Launches Payment Flow Management Services in Asia
Service Allows Financial Institutions to Monitor and Manage USD Payments in Real-Time
Hong Kong, January 31, 2005
– Citigroup Global Transaction Services announced the launch
of Payment Flow Management Services, a suite of new services that
enable financial institutions and organizations to get information
and reports in real-time on their USD payments through Citibank’s
U.S. Dollar Clearing Services.
In the first offering of its kind, clients can monitor in real time
their payment instructions as they flow through the global payments
processing systems of Citigroup. Via online access, clients can
get up-to-the-minute status of payments, a significant change from
the end of day statements other banks deliver. Clients can receive
their payment flow information via Citigroup’s award-winning
web-based delivery platform, CitiDirect® Online Banking, or
SWIFTNet Browse.
This new suite of Payment Flow Management Services comprises web-based
tools that allow clients to monitor payments in real-time, prioritize
payments, monitor balances and create custom reports. This service
is available in all locations and is targeted for clients with significant
USD payment volumes.
“The service allows clients to track where their USD payment
is as it moves through our system,” said Eileen Dignen, Director
of Global Payments for Citigroup Global Transaction Services. “With
this level of transparency, clients can better manage their treasury
and liquidity. Payment Flow Management Services gives them enhanced
and real-time information about their funds transfers, improving
their capital markets and trade related businesses – and ultimately
providing better service to their customers.”
“We are extremely proud to be the first in the market to
offer this type of service to our clients,” Anthony Nappi,
Cash Management Region Head and Chief Operating Officer for Citigroup
Global Transaction Services in Asia Pacific. “This offering
is a testimony to our commitment to bringing innovative and superior
services to our clients,” he concluded.
About Citigroup
Citigroup (NYSE: C), the preeminent global financial services company
with some 200 million customer accounts in more than 100 countries,
provides 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 and securities services for corporations,
financial institutions, intermediaries and governments around the
world. With over $ 138 billion in average liability balances, more
than $ 7.86 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 90 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.
