- Major bank extends its charges and processing status monitoring service to a double-figure number of markets
- More SWIFT traffic set to be covered as part of the changes
- “We are equipping clients with digital tools to resolve their most common needs instantly”, says company boss
Leading global financial institution Citi has announced that it will be taking its Citi Payment Insights service to more than 20 new markets around the world.
The tool, which allows those authorising payments to see the key nuggets of information including processing statuses, timelines, charges and more, will now be available in over 70 markets rather than the previous 50.
The changes will also impact those who transfer money internationally. A series of new gpi branches have now been switched on by the group, meaning that more than 80% of Citi’s international SWIFT traffic will be covered, a move which is likely to make it popular with money exchange brokers.
The changes to the Payment Insights tool come as a result of a merger between other applications, including CitiDirect BE and CitiConnect, as well as added investments in its SWIFT gpi system.
Leaders at Citi said that they were pleased to play a role in creating “an optimal user experience”.
“We have expanded the Citi Payment Insights offering to provide global consistency across more markets, segments, and channels to give our clients an optimal user experience and to help them to succeed in the rapidly changing digital economy”, said Manish Kohli, who is Global Head of Payments and Receivables at Citi Treasury and Trade Solutions.
“To achieve this, we are equipping clients with digital tools to resolve their most common needs instantly. This reduces delays, friction, and costs all within a comprehensive, convenient and secure solution”, he added.
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