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Citi launches multi-market instant payments on Swift payments scheme
30 September 2026 US
Image: Audrey/stock.adobe.com
Citi has announced it is the first bank to go live with multiple markets on the Swift payment scheme.
The solution, enabled through Citi’s Global Clearing network and WorldLink Payment Services, allows bank clients to access multiple cross-border instant payment markets through a single account structure, explains the firm.
According to the firm, its multi-market solution is available to more than 12,500 financial institutions connected to Swift, and participating bank clients are able to access multiple domestic real-time payment networks through their existing Swift connection, without needing to open local bank accounts or deploy new local infrastructure.
Citi reports it has enabled real-time payments through the Swift payment scheme in Australian dollar via New Payments Platform (NPP), British pound sterling via Faster Payment System (FPS), and Indian rupee via Immediate Payment Service (IMPS).
Additionally, the firm explains it has expanded US dollar clearing capabilities, allowing clients to transfer funds directly to Citi US beneficiaries.
Leigh Amaro, chief executive, Americas at Swift, says: “Industry collaboration is essential to delivering the faster, more transparent, and more predictable cross-border payments experience consumers have come to expect.”
Debopama Sen, head of Payments, Services at Citi, adds: “The future of banking is real-time, always-on, and increasingly interconnected. Through our continued collaboration with Swift, we’re helping banks connect to instant payment capabilities across multiple markets through a seamless and scalable model.”
Citi expresses it plans to expand the capability to additional currencies and markets in the future.
The solution, enabled through Citi’s Global Clearing network and WorldLink Payment Services, allows bank clients to access multiple cross-border instant payment markets through a single account structure, explains the firm.
According to the firm, its multi-market solution is available to more than 12,500 financial institutions connected to Swift, and participating bank clients are able to access multiple domestic real-time payment networks through their existing Swift connection, without needing to open local bank accounts or deploy new local infrastructure.
Citi reports it has enabled real-time payments through the Swift payment scheme in Australian dollar via New Payments Platform (NPP), British pound sterling via Faster Payment System (FPS), and Indian rupee via Immediate Payment Service (IMPS).
Additionally, the firm explains it has expanded US dollar clearing capabilities, allowing clients to transfer funds directly to Citi US beneficiaries.
Leigh Amaro, chief executive, Americas at Swift, says: “Industry collaboration is essential to delivering the faster, more transparent, and more predictable cross-border payments experience consumers have come to expect.”
Debopama Sen, head of Payments, Services at Citi, adds: “The future of banking is real-time, always-on, and increasingly interconnected. Through our continued collaboration with Swift, we’re helping banks connect to instant payment capabilities across multiple markets through a seamless and scalable model.”
Citi expresses it plans to expand the capability to additional currencies and markets in the future.
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