The new services offer faster US Dollar payments by sending transactions to the beneficiary bank in Asia, said the lender.
Backed by experienced operations professionals to correct formatting errors, the new service also offers additional liquidity to banks that need to process their payments within Asia morning business hours.
In addition to expanding trade relationships between India and the rest of the world, it also offers direct linkages into local US Dollar Clearing systems.
Using the new system, its customers can access a larger network of local and regional clearing channels, with added ability to request payments to be routed through a specific clearing system.
Citi Transaction Services, a division of Citi’s Institutional Clients Group, provides integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations globally.
