Citi launches multi-market instant payments via Swift
Citi has become the first bank to launch multi-market instant payments on the Swift payments scheme, allowing clients to access cross-border transactions in AUD, GBP, INR, and USD. The service runs through Citi’s WorldLink® Payment Services and proprietary Global Clearing network, removing the requirement for separate local banking relationships or bilateral agreements.
Connecting to Real-Time Networks
The system enables clients to reach multiple domestic real-time payment networks via their existing Swift connection. Participating institutions do not need to open local bank accounts or deploy new technical infrastructure. This approach connects over 12,500 financial institutions in the Swift ecosystem.
Citi leverages established instant payment rails and ISO 20022 (MX) capabilities to support transactions in AUD through the NPP, GBP via the FPS, and INR through the IMPS. The bank has also expanded its USD Clearing capabilities, allowing funds to transfer directly to Citi U.S. beneficiaries for faster, broader global access.
Global Network Reach
Through WorldLink, clients gain direct connectivity to nine instant payment schemes and near real-time wires in 20 currencies. The platform supports payments in 135 currencies with integrated FX across over 4,500 currency pairs.
Industry Collaboration
Citi’s participation in Swift’s ledger initiative and real-time capabilities, including Citi Custody+, 24/7 USD Clearing and Citi Token Services, represents a step toward enabling interoperable, multi-bank movement of money, liquidity, and securities across borders. This launch builds on Citi Services’ broader suite of real-time account-to-account payments solutions via WorldLink.
