18 August 2017
visit www.avoka.com

Citi sets sights on white label business

11 October 2004  |  8064 views  |  0 Citygroup

Citigroup Global Transaction Services has unveiled a modular set of white label transaction processing services for the banking industry, covering payments and collections, foreign exchange dealing and clearing, securities trading and clearing, sub-custody and agency treasury.

Citi says the Borderless Banking initiaitive allows banks to expand their product range, re-engineer their delivery infrastructure and extend their geographical network by drawing on Citigroup's worldwide capabilities and local presence - all on a white-label basis.

Citi says many of products on offer under the package break new ground, pointing in particular to its forthcoming Single Nostro account which allows banks to make payments and collections in more than 45 currencies through a single account in the base currency of their choice.

Tom Isaac, managing director of Citigroup Global Transaction Services, comments: "Banks gain from the ability to add new products or services, extend their market reach, or cut costs and forward investment commitments."

In a separate announcement, Citigroup has inked a private label trade processing deal with Spanish savings bank organisation, Confederacion Española del Cajas de Ahorros (Ceca). The agreement covers Ceca's Asian letters of credit, which will be processed by Citibank's outposts in the region.
KeywordsOUTSOURCING

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

Payments squeeze to undermine bank profitability warns BCG

Payments squeeze to undermine bank profitability warns BCG

11 October 2004  |  4954 views  |  0 comments
JPMorgan teams with Cognotec to enter FX white label business

JPMorgan teams with Cognotec to enter FX white label business

01 June 2004  |  5873 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comdownload the paper nowvisit www.abe-eba.eu

Who is commenting?

Top topics

Most viewed Most shared
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
10085 views comments | 8 tweets | 16 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8368 views comments | 1 tweets | 3 linkedin
hands typing furiouslyCompliance: Overcome the data deficit
7812 views 0 | 1 tweets | 9 linkedin
PayPal buys Swift Financial to boost working capital bizPayPal buys Swift Financial to boost worki...
7759 views comments | 13 tweets | 7 linkedin
Uneasy sits the crown as cash use continues declineUneasy sits the crown as cash use continue...
7725 views comments | 3 tweets | 7 linkedin