New York, NY – Citi has been recognized by The Banker as the Best Global Cash Management Bank, and Best Bank for Transaction Services in the Asia-Pacific region for its 2022 Transaction Banking Awards. This recognition comes as Citi Treasury and Trade Solutions (TTS) continues to invest in its platform, talent and services to help its clients -- many of the world's largest companies and emerging fintechs -- to achieve their growth ambitions.
"We are honored to have our efforts to enable our clients' success recognized by the industry in this way," said Shahmir Khaliq, Global Head of Citi's Treasury and Trade Solutions. "As organizations across industries and geographic regions face challenges related to an uncertain post-pandemic macroeconomic environment, supply chain disruption and changing consumer expectations around digital payments, we are continuing to invest in our products and platforms to enable clients to drive revenue, facilitate payments and improve liquidity."
Citi's recognition in the Global Cash Management category reflects the work it has done to grow its instant payment network and capabilities – within the broader goal of helping clients evolve their payments strategies as they seek to remain competitive in today's digital economy.
Citi Global Instant Payments provides connectivity to over 30 instant payment schemes, reaching over 60 countries as of 2Q 2022. In 2021 Citi processed over 584 million instant payments – marking 129% volume growth over the year, and also expanded the WorldLink cross-border payment solution to allow clients with Global Citi accounts to make cross- border instant payments to India, Indonesia, Mexico, Singapore, Thailand and the UK, with more countries planned for this year.
Rajesh Mehta, Asia Pacific Head of Treasury and Trade Solutions said, "We are proud to be recognized as the leader in transaction banking in Asia-Pacific, a testament to Citi's strong client focus and innovative capabilities. Over the past year, we have partnered closely with our clients to navigate headwinds while supporting their key priorities and growth ambitions. We continue to leverage digital and data to enable real-time services that support client needs in the digital economy while expanding our scope of services in various areas, including sustainability."
The Transaction Banking Awards' recognition of Citi in the Asia-Pacific category affirms the bank's ongoing commitment to corporate clients in the region. In the past year, Citi has helped clients navigate market changes, ongoing disruption and uncertainty in the macroenvironment. In addition to growing instant payment capabilities, Citi also introduced real-time liquidity sharing in Asia-Pacific and launched sustainable finance products for its trade clients.
In June 2021, Citi in collaboration with partners also delivered a working demonstration of a regulated liability network, a multi-tiered financial market infrastructure to support the transfer of digital assets across a single network, as part of the Monetary Authority of Singapore's global central bank digital currency challenge. These initiatives, among others which contributed to this award recognition, reflect Citi's understanding that meeting the needs of future commerce – traditional and digital – requires a scalable, global platform.
Citi Treasury and Trade Solutions (TTS) enables our clients' success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the industry's largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms, TTS continues to lead the way in offering the industry's most comprehensive range of digitally enabled treasury, trade and liquidity management solutions.
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States Citi does business in more than 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
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