Citigroup Launches Borderless Banking

Borderless Banking gives banks cheaper, faster, more efficient and sophisticated transaction processing power - all supported by Citigroup's service excellence and global network. Borderless Banking can transform the economics of a bank's whole business line by allowing them to compete by satisfying the most demanding of customers.

Commenting on the launch of Borderless Banking, Tom Isaac, Managing Director of Citigroup Global Transaction Services, said: 'Borderless Banking is a new business model for banks. It gives them the ability to leverage Citigroup's comprehensive product set while sharing in the economies of scale. Banks gain from the ability to add new products or services, extend their market reach, or cut costs and forward investment commitments. Their customers gain by receiving better service and more competitive pricing.'

Marion Lang, Sales Manager, Global Banks, Foreign Exchange, Citigroup, commented: 'Borderless Banking enables a bank to offer its clients a world-class FX trading service without any of the related infrastructure costs. Citigroup's FX technology offers live dealable rates and STP (straight-through-processing) trade feeds backed by the unmatched liquidity offered by Citigroup. It is a powerful addition to any bank's armoury.'