WorldLink Payment Services Of Citi Expanded To More Countries

The cross-border ACH capabilities of WorldLink Payment Services have been expanded to 60 countries. Citi’s WorldLink now provides a worldwide cross-currency digital payments solution to 195 countries and in 135 currencies. At the moment WorldLink serves clients numbering more than 3,500 and processes more than 50 million payments annually. It is estimated that the value of these payments is approximately $250 billion. The payments solution leverages the branch presence of Citi and therefore has access to regional and local clearing systems numbering approximately 250.

Mobile-first strategy

This comes as U.S.-based lender continues its push with regards to its mobile-first strategy where Citi aims to ensure that consumers have capabilities and access in their hands. According to the chief executive of Citi Cards, Jud Linville, this has resulted in improvements in client satisfaction, preference and engagement. So far the bank has unveiled over 800 digital features according to Linville.

“With the rapid rise of digital—particularly mobile—as a centerprice in our lives, consumers are seeking ease and simplicity like never before…[we have] an opportunity to redefine how banking looks and feels through a mobile-first strategy,” said Linville.

Per research conducted by Citi the average number of days in a month that the average consumer uses mobile banking is seven. With a shift to mobile strategies Citi has benefited from lower costs, greater retention and higher customer engagement. The use of apps is also rising rapidly and in the last quarter, there was a 22% year-over-year growth in the number of mobile users.

Branch services

Some of the apps that Citi has made available to consumers allow the filing of a dispute, tracking of a replacement card as well as adding of authorized users. Additionally customers can activate a new card provided by Citi just by taking a picture of the card via the app.

The success of Citi’s mobile-first strategy is coming in the wake of Willem Buiter, the lender’s chief executive, exiting the bank. His replacement will be Catherine Mann, who was most recently OECD’s chief economist. Prior to joining the OECD in 2014, Mann had previously worked at the World Bank, the Council of Economic Advisers as well as at the Federal Reserve.

Though he will not be involved in Citi’s economics coverage on a day-to-day basis, Buiter will still be involved in client service and regular reports. Before he joined Citi Buiter worked at the Bank of England as well as the European Bank for Reconstruction and Development.

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