According to Citi, the new Citi Virtual Accounts allow clients to segregate their balances under a single physical account, providing visibility and control through centralized payments, receivables, and liquidity management.
Citi also revealed that the virtual accounts solution is live with clients in Western Europe covering 16 markets and 37 currencies, with the US and Asia to follow.
Citi went on to add that the virtual account structures can be configured for a single entity or support the “On Behalf Of” model of an in-house bank.
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