Citigroup Global Transaction Services has released CitiDirect Online Banking, a new module designed specifically for correspondent banks. Using the platform, CitiDirect users can issue commercial letters of credit, letter of credit amendments, reimbursement authorizations, reimbursement amendments and free form trade services messages. According to Citigroup, clients can avoid the cost of sending transactions via telex or courier, the lengthy delays of surface mail, and the lack of security with hard copies. Clients using CitiDirect will enjoy a high degree of straight-through transaction processing and are able to eliminate the slowdowns associated with manual telex test keys or signature verifications, according to the organisation. ‘Financial Institutions in the emerging markets are an important part of our correspondent banking network,’ said Naveed Riaz, Managing Director and Global Head of Trade at Citigroup.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more