22 November 2017
visit www.aciworldwide.com

Citi to tap emerging corporate-to-consumer payments market

25 October 2010  |  8791 views  |  0 Cash -- close up 100 dollar bill

Citi is to create a new 'Global Enterprise Payments' unit that will combine its transaction banking and cards businesses to provides services in the corporate-to-consumer market.

Vikram Pandit, CEO of Citi, says Global Enterprise Payments represent a significant growth opportunity for the bank.

"With our unmatched global footprint and services infrastructure, no one other than Citi can capitalise on the opportunities in the services area," he says. "Enterprise Payments is a natural intersection between our consumer and institutional businesses that will engineer innovative solutions for our clients."

The unit will be led by Paul Galant, who will serve as CEO, working in partnership with Francesco Vanni d'Archirafi, CEO of GTS and Jud Linville, CEO of Citi Cards.

Galant, a former CEO of both GTS and Citi Cards, says the new unit will develop services that help banks, corporates and government departments to interact more efficiently with their customers. The objective is to provide a single source alternative to the clutter of third party providers that currently compete in this space.

"As digitisation continues to take hold, there is a migration from physical currency to digital currency," notes Galant. "The information flows, the loyalty and the opportunity to target gets lost through all of these different hub points of connectivity between the ultimate service provider and the consumer. This is where Citi can really add value."

Citi has not disclosed details of the level of manpower or monetary investment released to back the enterprise.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Citi to pilot multi-account '2G cards'

Citi to pilot multi-account '2G cards'

05 October 2010  |  11394 views  |  1 comments
Citi rolls out contactless payments stickers

Citi rolls out contactless payments stickers

10 June 2010  |  17277 views  |  0 comments
Gartner takes a swipe at Citi mobile trial data

Gartner takes a swipe at Citi mobile trial data

18 March 2010  |  11985 views  |  1 comments
Citi-backed social money comparison site Bundle launches

Citi-backed social money comparison site Bundle launches

20 January 2010  |  8311 views  |  0 comments
Citi taps Microsoft for new e-banking service for corporates

Citi taps Microsoft for new e-banking service for corporates

15 September 2009  |  8014 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.vasco.comvisit www.capgemini.com

Top topics

Most viewed Most shared
Ripple boss predicts central bank adoption of blockchainRipple boss predicts central bank adoption...
20015 views comments | 31 tweets | 33 linkedin
AmEx partners Ripple and Santander for blockchain-enabled cross-border paymentsAmEx partners Ripple and Santander for blo...
11990 views comments | 15 tweets | 42 linkedin
UK cryptocurrency exchange startup launches debit card for spending bitcoinUK cryptocurrency exchange startup launche...
9711 views comments | 26 tweets | 38 linkedin
Barclays warns of unprecedented online fraud this ChristmasBarclays warns of unprecedented online fra...
9549 views comments | 16 tweets | 33 linkedin
ING brings data privacy to blockchain transactionsING brings data privacy to blockchain tran...
7102 views comments | 22 tweets | 35 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job