Citigroup wins Kiwibank payments mandate

Source: Citigroup

Citigroup (NYSE:C) and Kiwibank announced today that Kiwibank will provide a range of international accounts and services, leveraging Citigroup's products and processing capabilities.

With this offering, Kiwibank's customers can enjoy a broad range of sophisticated international payment and trade products, including cross border funds transfers, trade services, foreign currency accounts and forward contracts.

"Providing a full range of international accounts and services consolidates Kiwibank's position as a full-service bank," said Sam Knowles, Chief Executive of Kiwibank.

"We are delighted to work with Kiwibank to provide a solution that enables Kiwibank to expand its product with minimal investments by leveraging our network, processing infrastructure and product superiority," said Mark Fitzgerald, Citigroup NZ Country Head. "Kiwibank's broad customer base and extensive distribution network in the New Zealand market provides a natural synergy with Citigroup's extensive global network in over 100 countries, international product capabilities and delivery channels," he said.

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