Mandates and payments roundup, June 14

Citi opens a new smart banking branch in Malaysia, while Travelex announces that its customers will be able to trade in renminbi through its GEO global clearing network.

Citi opens smart banking branch in Malaysia

Citi has opened its first and largest smart banking branch in the region in Malaysia. The new branch provides a range of technology services that include Citi media wall and interactive media wall, service browser, work bench, private briefing room and a video conferencing facility.

“Using technology as an enabler, we are giving customers control over their banking needs. Customers can open a savings account, place a time deposit or apply and get approval for a credit card within an hour here at our branch, on their own,” said Fabio Fontainha, head of consumer markets for Citi’s business in Malaysia, in a statement. “They can use the interactive touch-screen panels to browse for information, obtain assistance from Citi professionals or enjoy a consultation with a product specialist by using the conferencing facilities.”

Citi has 11 branches and 10 sales and outsourcing centres in Malaysia. Customers can also access 10,000 automated teller machines (ATMs) in more than 2,000 locations through the Malaysian Electronic Payment Systems network.

Travelex to offer renminbi trade settlement

London-based international foreign exchange payments company, Travelex, announced that its customers will be able to trade in renminbi through its GEO global clearing network later this month. According to the firm, it is the first non-bank payments specialist to offer business transfers in renminbi.

“The historical significance of a fully convertible renminbi cannot be understated and the movement away from using the US dollar as the default settlement currency has already begun,” said David Sear, global managing director at Travelex global business payments, in a statement. “Savvy businesses in Europe, the US and Asia-Pacific are already changing their approach on trade-related cross-border payments to benefit from this ability to pay Chinese companies in renminbi.”

Wincor Nixdorf wins mandates in the Philippines

Wincor Nixdorf, the Germany-based retail banking service provider, has won mandates from Allied Banking Corporation, Allied Savings Bank and Philippine National Bank to provide real-time managed services at bank branches and offsite ATMs.

“The goal of managed services is to continuously improve ATM availability through the standardisation of service procedures. It is critical to provide proactive monitoring of ATMs to ensure they are operational [24 hours a day] to maintain consistently high levels of customer service,” said Liow Meow Kee, regional vice-president and head of services at Wincor Nixdorf Asia-Pacific, in a statement. “Managed services is a cost effective way for banks to standardise services and processes, and conduct centralised reporting and management of ATMs from a reliable vendor, in order for banks to focus on their core business.”

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