The stock of Citigroup Inc (NYSE:C) closed at $75.85 gaining 0.20% in yesterday’s trading session. Citi’s Treasury and Trade Solutions (TTS) have finally managed to expand cross-currency ACH Offering to cover 60 countries. The best part about WorldLink® lies in the fact serves users with a simple, global and digital cross-currency payments solution. Users have choice of using any of the 135 currencies and most of them appreciate such diversity. The payments can be made in any of the 195 countries around the globe.
The Global Head of Payments and Receivables working with Citi Treasury and Trade Solutions, Manish Kohli opined, “We are focused on delivering the power of Citi to our clients by building integrated global solutions that connect our clients to every part of our continuously expanding global payments network in an efficient and consistent manner.”
According to him, the expanded capability was going to move a long way towards helping clients participate in commerce in a wide array of the new markets. Hopefully, they will be taking advantage of the low cost payment options and all of them will be provided through the various digital channels set in place.
The reason as to why City moved ahead to expand the WorldLink® functionality lay in the fact that it played a major role towards helping users send cross-border ACH payments into ten more markets in Middle East, Europe, and Africa (EMEA) region.
On top of this, the latest reports indicate that at the moment there are about nine cross-border ACH corridors in progress with most of them being in the advanced stages of development. If everything moves according to plan, it is expected that by 2018 they will start delivering.
The implementation will mean a lot of good things for all the users. The company’s spokesperson in a recent interview said that the implementation was the only remaining thing standing in between users gaining access to the file based cross-border ACH solutions.
That is in about 69 countries and a total of 34 currencies. WorldLink® stands out when it comes to those top solutions entrusted with delivering automation, efficiencies, robust security, consistent reporting as well as compliance with evolving and complex regulatory requirements.