Equiniti Group has partnered up again with Citi in order to manage the bank’s international payments services and build on their relationship.
The new payments mandate will result in seeing Citi deal with multiple product offering and provide overseas payments of pensions, shareholder payments and support the international payments business for Equiniti International Payments.
This partnership means that Citi’s Treasury and Trade Solutions (TTS) and Foreign Exchange Local Markets Group (FXLM) will work together so that Equiniti Group can benefit from the bank’s experience and expertise as well as, maintain more than 130 currencies and real time foreign exchange access for over 400 currency pairs.
Head of Citi treasury and trade solutions in the EMEA region, Rajesh Mehta, confirms the strong relationship between two entities. “We know the business, we know the people and we have a good understanding of how to support their growth. We are delighted to have been awarded this mandate and look forward to our continued engagement,” Mehta said.
CEO of Equiniti, Guy Wakeley, commented on the relationship and picked up on how Citi’s payment reach is unrivalled. “We have been able to enhance and extend the range and flexibility of services that we offer to our clients. We look forward to growing our relationship in the areas of payment and smart technology solutions,” Wakeley mentioned.
Criticisms of bitcoin by JP Morgan Chase’s boss have been denounced by a UK academic as “ironic” and “hardly surprising” considering the impact bitcoin could have on financial intermediaries.
Leaked documents from the UK Home Office proposing that low-skilled EU migrants would be restricted in the UK’s post-Brexit immigration scheme may be more likely to increase automation and off-shoring of labour, rather than increase British wages, industry experts have warned.
The European Central Bank's (ECB) hotly anticipated meeting on Thursday afternoon made the euro skyrocket, as president Mario Draghi announced interest rates would remain at 0% and its quantitative easing programme will stay until at least the end of 2017.
The “sad truth” of banking is that many jobs will be automated in the future, Deutsche Bank's chief executive said yesterday. Despite this, a recent survey found that 98% of European workers are optimistic about the changes automation will bring to their workplace.