Citigroup Global Transaction Services has launched payment flow management services, a suite of new services that enable financial institutions to get information and reports in real-time on their USD payments through Citibank's US dollar clearing services.
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 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 financial institutions clients with significant USD payment volumes.
"The service allows clients to track where their USD payment is as it moves through our system," said Anthony Nappi, cash management region head and chief operating officer for Citigroup Global Transaction Services in Asia Pacific. "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."
For more information on Payment Flow Manager, please contact your Citigroup Global Transaction Services representative.