Citi Proud to Continue Supplying Services to UK Government

LONDON - Citi is proud to have once again been selected as the supplier of services to process overseas payments on behalf of Government Banking, following a competitive tender process for its Money Transmission Services.

Citi has been a Government Banking supplier since 2008, providing a suite of Foreign Exchange (FX) and Payment Services. The new contract will run for eight years with the potential to be extended for a further four years.

We believe the appointment demonstrates Citi's leadership in providing advice and innovative financial solutions to governments and public sector organizations globally. As part of this work Citi will provide Overseas Payments, Automated Clearing House (ACH) network services, FX Advisory and regular and one-off spot FX services.  

Citi UK CEO, Tiina Lee, “Citi’s global network stretches across more than 180 countries, and the UK is right at the heart of that network. For over 120 years we have supported our UK clients in achieving their goals, by providing them with full access to our global platform, perspectives and expertise. We are proud to have been chosen to continue providing essential financial services to the UK government, bringing the strength of cross-border payments capabilities to key Departments.”

Citi’s Services UK Cluster Head Peter Cunningham, "We are delighted to once again be given the opportunity to support the UK Government, and its work around the world, with Citi’s solutions and expertise. As a truly global bank, time and again, Citi has proven its public sector credentials working with governments and institutions to support their payments needs.”

Citi has the largest proprietary network globally, with banking licenses in over 90 countries and globally integrated technology platforms which move over $5 trillion daily for clients. Across its network, Citi works with more than 150 central governments, 100 local and regional governments, and more than 100 central banks, as well as key development banks, pension funds and sovereign wealth funds.