Citi launched Citi Real-Time Funding (RTF), a real time funds transfer tool.
The new tool helps commercial clients move funds between cross-border accounts automatically, based on pre-defined rules.
Citi Real-Time Funding (RTF) is now available in Australia, Hong Kong, and the U.K.
Citi announced today that it is offering faster funds transfers for some clients. Today, the bank unveiled Citi Real-Time Funding (RTF), a real-time funds transfer tool that helps commercial clients move funds between cross-border accounts automatically, based on pre-defined rules.
Citi RTF is launching as part of the bank’s real-time treasury suite of solutions for corporate clients and is now available in Australia, Hong Kong, and the U.K. Citi plans to expand the capability to additional geographies later this year.
“With the introduction of Citi RTF, Citi continues to deliver best-in-class, real-time treasury solutions to help our clients remain competitive and agile,” said Citi Services Global Head of Liquidity Management Services Stephen Randall. “With the proliferation of instant payments and evolving business models, treasuries must be able to support rapidly growing, 24/7 cash flows. Citi RTF complements our existing treasury products like Real-Time Multibanking, On-Demand Sweeps and Real-Time Liquidity Sharing that are powering our clients’ journeys to real-time liquidity management.”
Because the funds transfer rules are set by the client, clients can tailor the solution to ensure that cash is available when and where it’s needed. Transfers between intercompany accounts can be done 24/7, including intraday, afterhours, weekends, and holidays. The new tool also offers clients complex cash forecasting and a consolidated view of their accounts, including intercompany loans and cash positions, in a single report.
As real-time money movement services become more prolific in commercial banking, they are poised to become indispensable components of sophisticated treasury management systems. The speed of money movement, combined with the increased visibility of real-time funds, offers businesses greater financial agility and strategic advantage.
Photo by Renel Wackett on Unsplash
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