Citi Expands Its Cross-Currency Sweeps Solution to Other 14 Countries

The US banking giant Citi announced that it has expanded its cross-currency sweeps cash management solution to other 14 European countries.

According to the press release, Citi Cross-Currency Sweeps is now available in an additional 14 countries across Europe including Bulgaria, Hungary, Czechia, Slovakia, Netherlands, Ireland, Germany, Sweden, Norway, Belgium, France, Spain, Portugal, and Austria.

Leveraging Citi’s global cash concentration network and foreign exchange (FX) capabilities, the solution enables companies to manage FX and cash positions and immediately convert available liquidity into the currency of their choice.

The tool addresses a wide range of cash management needs, making it easier for companies to fund accounts when and where balances are needed and to achieve optimized liquidity across their global banking structure.

​“As technology has evolved, we are helping our clients to automate processes, using efficient, integrated and seamless strategies to provide transparent liquidity and FX activities. Citi Cross-Currency Sweeps brings together the power of our liquidity and FX technologies to help our clients automate their day-to-day activities so that they can stay focused on creating smart treasuries of the future, today,”said Sam Hewson, the Global Head of eFX Solutions and EMEA Head of Corporate Sales. 

Last month, Citigroup announced that it plans to add 100 new roles related to digital assets​​ under its institutional division, which came as a part of its effort to help support the company's digital asset capabilities.