US bank Citi and cross-border payments outfit Eurogiro have teamed up to extend their respective global payment distribution networks.
The alliance will bring together Eurogiro's 61 connections in 50 countries with Citi's existing payment network encompassing over 100 countries.
Eurogiro says the agreement will enable its members to benefit from Citi's distribution capacity and payment offerings, while Citi customers will gain access to its distribution network and products.
Henrik Parl, MD, Eurogiro, says: "Citi provides Eurogiro with the leading international payments capabilities and cross-border expertise we were looking for in a banking relationship so we can continue to grow our network while providing clients with the greatest choice."
Francesco Vanni d'Archirafi, global transaction services head for Emea at Citi, says: "Expanding our payment network is a core initiative for Citi and Eurogiro is an ideal ally for us."