Citi’s Institutional Virtual Accounts Usage Increase Significantly With Global Clients Frictionless Experience Helps Drive Client Growth Into New Global Markets
Citi Virtual Accounts is a global solution that offers many benefits over traditional account structures including:
- Bank account simplification
- Real-time cash concentration and account segregation based on a company’s operating model
- Instant access to cash management capabilities
- A fully automated and digitalized onboarding experience
- Streamlined execution of documentation and minimized IT requirements for clients – with accounts opened and transactional within 24 hours. Previously, this process could take months
- Domestic, international and instant payment options across multiple payment methods, spanning high value and low value payments
- Offered across 41 currencies
“We are pleased with the rapid adoption of Virtual Accounts by our clients, allowing them to implement their ecommerce strategies and rapidly expand into new markets -- without investing heavily in their own technical infrastructure,” said
Citi continues to invest in technology innovation to help its clients grow. Currently live in the
Recognized as Best Global Virtual Accounts solution by Global Finance in 2022, Citi Virtual Accounts continues to push clients ahead on their digital transformation journeys. The service offers access to multiple payment methods including high and low value payments made through wires, ACH, instant payments and checks.
Client Usage & Benefits:
“By working with Citi, our transition towards a more centralized in-house bank (IHB) model was a seamless experience. Citi’s Virtual Account solution enabled us to implement a new account structure quickly, giving us access to a market leading payments network, greater flexibility in recording intercompany positions and enhanced visibility of different project cash flows within the business. The success of our transformation journey is rooted in the relationship we have with Citi and we look forward to our continued collaboration“
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
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