Citigroup Launches New FX Solution and Picks Up New Canadian Client
Global Transaction Services, a business of Citigroup Corporate and Investment Banking, has announced enhancements to WorldLink Payment Services, its global cross-border payment solution. This latest feature, WorldLink Cash, does not require a payment beneficiary to have an account, which should allow clients to make urgent, low-value cash payments immediately and cost-effectively. With this new feature, WorldLink users can now disburse cash into 190 countries through a single window, funded through a single account in one currency, without having to maintain multiple local bank accounts. In other news, Citigroup’s Global Transaction Services has been selected by Chou Associates Management to provide a comprehensive suite of global custody, fund valuation and recordkeeping services for the Canadian investment organization. This appointment marks the first client for Citigroup’s recently launched global ‘window’ in Canada.