Citi, through Citibank Europe PLC, has
signed an agreement with Land Bank of the Philippines to be the exclusive
payment service provider for cross border solutions via Citi’s WorldLink® Payment
Services. The partnership enables Land Bank to extend their payment service
networks to include over 40 currencies, allowing the government-owned bank to
deliver funds to beneficiaries around the globe in the currency that they need.
The partnership was commemorated last November 8 by representatives of Citi and Land Bank
of the Philippines, led by Land Bank president and CEO Alex Buenaventura, Land
Bank Treasury and Investment Banking Sector head Carel Halog, Citi Philippines.
CEO and country officer Aftab
Ahmed, Citi ASEAN Treasury and Trade Solutions (TTS) head Debopama Sen,
Treasury and Trade Solutions country head Arlene Nethercott, Corporate and
Investment Banking (CIB) head Vikram Singh, and CIB Public Sector head Aesha
Pabillon.
At the event, Citi and Land
Bank recognized the importance of the partnership and potential for the
platform to drive improved operational efficiency through cost savings for Land
Bank and other government agencies.
“Through this partnership and with the use of
WorldLink®, we hope our government agencies will be more efficient, transparent
and provide better service to Filipinos here and overseas,” said Land Bank president
and CEO Alex Buenaventura.
According to Citi’s ASEAN
TTS head Debopama Sen, “We value this partnership with Land Bank and the
opportunity to showcase Citi’s comprehensive range of digitally enabled
treasury, trade and liquidity management solutions.”
WorldLink®, Citi’s leading cross-border
payments solution is used by over 1,200 financial institutions globally, to
efficiently make payments in more than 130 currencies and 195 countries. WorldLink® offers an
unparalleled solution delivering cost efficiencies, automation, consistent
reporting, robust security, and compliance with evolving and complex regulatory
requirements.
