Citigroup Launches Real-Time Cross-Border Payments Across Three Nations
Citigroup has launched real-time cross-border payments across the U.K., India, and Australia, using a single Swift connection. The bank claims this is an industry first, though independent confirmation is pending.
Simplifying Cross-Border Transactions
At the Sibos 2026 event in Miami, Citigroup announced its new service, which allows clients to access multiple countries’ instant payment systems through a unified account structure. This eliminates the need for banks to open local accounts, negotiate individual agreements, or build technical infrastructure in each market.
The service operates through Citi’s Global Clearing network and its WorldLink Payment Services platform. It currently supports real-time payments in three currencies: Australian dollars via the New Payments Platform, British pounds via Faster Payments, and Indian rupees via the Immediate Payment Service.
Expanding Global Reach
Citi has also expanded its U.S. dollar clearing service, enabling clients to send money directly to beneficiaries in the U.S. The bank plans to add more currencies and markets in the future. Thousands of financial institutions connected to Swift can now access domestic real-time payment networks through their existing Swift connection.
Historically, instant payments across multiple countries required banks to open accounts in each market, negotiate with local partners, and build custom links to clearing systems. Citi’s new service streamlines this process, building on its previous efforts to accelerate payments.
A Push for Round-the-Clock Payments
In 2024, Citi and Emirates NBD launched a 24/7 U.S. dollar clearing service, addressing the challenges posed by time zones and early cutoffs. This latest development is part of Citi’s broader initiative to enable round-the-clock payments, including its role in Swift’s ledger initiative and services like Citi Custody+ and Citi Token Services.
Leigh Amaro, CEO for the Americas at Swift, emphasized the importance of industry collaboration in achieving faster, more predictable cross-border payments. She noted that as Swift’s retail payments framework grows, greater certainty over cost, delivery time, and end-to-end visibility will become a reality for more people and businesses globally.
Citi’s WorldLink platform connects clients to nine instant payment schemes, enabling near real-time wires in 20 currencies across 54 markets. The platform handles payments in 135 currencies and foreign exchange across 4,500 currency pairs, with additional capabilities for digital wallets and cards.
