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Equals Group agrees ‘global relationship’ with Citigroup

E-banking and payment services provider Equals Group, which recently changed its name from FairFx Group, announced that it has entered into a “global relationship” with Citigroup.

Equals said that it is teaming up with Citi Commercial Bank (CCB) to enhance the lender's current product offering and heighten efficiencies.

“Citi has local settlement and clearance capabilities for payments in over 90 countries, which together will improve the customer experience through faster settlement and deliver improved economics for Equals in terms of reduced transaction costs,” the group added.

Expanded range of currencies

Equals said the partnership with Citi will also significantly increase the number of currencies it can offer clients, with Citi’s WorldLink platform offering more than 135 currencies.

“We are delighted to have partnered with a global banking brand like Citi,” said Equals chief executive James Hickman. “This demonstrates our desire for innovation and commitment to providing best in class services to our clients.

“Partnering with Citi not only allows us to offer local clearing and settlement across the globe, but their WorldLink platform also has many other exciting pieces of functionality which will create efficiencies for the group and our clients.”

Earlier this month, Equals announced that it would be rolling out a series of new products in the second half of 2019. Having secured access to the US market following a deal with Metropolitan Commercial Bank, it will be commencing work on the launch of its ‘Equals Spend’ corporate platform in the US in the coming months.

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This item appears in the following sections:
Bank Relations & KYC
electronic Bank Account Management
Payments - Disbursements
International Payments
Urgent/Instant .Payments
Risk Management
FX Hedging & Risk Management

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