NEW YORK — Sept. 29, 2026
Executive Summary
Citi has announced that it is the first bank to go live with multiple markets on the Swift payments scheme, enabling participating bank clients to access instant cross-border payments in major currencies including AUD, GBP, INR and USD. The capability uses Citi’s Global Clearing network and WorldLink® Payment Services to provide access through an existing Swift connection, without separate local banking relationships, bilateral agreements or local technical infrastructure.
Announcement Overview
Citi stated that its multi-market solution enables participating bank clients to access multiple domestic real-time payment networks through a single account structure and existing Swift connection. The initial capabilities cover AUD through NPP, GBP through FPS and INR through IMPS, while expanded USD Clearing capabilities allow participating banks to send U.S. dollar payments credited directly to Citi account holders in real time. Citi stated that additional currencies and markets are planned, extending its broader real-time payments capabilities for cross-border movement of money, liquidity, securities and collateral.
Key Announcement Details
- Announcement Type: Multi-Market Instant Payments Launch
- Announcing Entity: Citi
- Announcement Date: September 29, 2026
- Dateline: NEW YORK
- Payment Scheme: Swift payments scheme
- Primary Development: Multi-market instant cross-border payments
- Currencies: AUD, GBP, INR and USD
- Payment Rails: NPP, FPS, IMPS and Citi USD Clearing
- Platform: WorldLink® Payment Services
- Infrastructure: Citi Global Clearing network
- Swift Reach: 12,500 connected financial institutions
- Markets: 54 markets
- Currencies Available: 135 currencies
- Instant Payment Schemes: 9
- Real-Time Wires: 20 currencies
- FX Coverage: 4,500+ currency pairs
- Expansion: Additional currencies and markets planned
Citi Goes Live With Multiple Markets on the Swift Payments Scheme
Citi announced that it is the first bank to go live with multiple markets on the Swift payments scheme, through capabilities delivered by its Global Clearing network and WorldLink® Payment Services.
The solution allows participating bank clients to access multiple cross-border instant payment markets through a single account structure.
According to Citi, the model removes several requirements historically associated with establishing access to individual domestic payment systems, including:
- Separate local banking relationships
- Bilateral agreements with individual partner banks
- Local technical infrastructure
- Custom integrations with individual local clearing systems
Citi stated that it plans to extend the capability to additional currencies and markets in the future.
Highlights
- Multi-market access: Participating bank clients can access instant cross-border payments across major international currencies, including AUD, GBP, INR and USD.
- Existing Swift connection: Clients can access multiple domestic real-time payment networks through their existing Swift connection.
- Single account structure: The solution provides access across multiple payment markets without requiring separate local banking relationships.
- Reduced infrastructure requirements: Participating clients do not need to open local bank accounts or deploy new local infrastructure for the markets covered by the solution.
- Broader expansion planned: Citi stated that additional currencies and markets will be added in the future.
- Global payments strategy: The rollout supports Citi Services’ focus on real-time, always-on cross-border payments and settlements and the movement of money, liquidity and securities across borders.
Citi’s Collaboration With Swift
Citi stated that the launch has been developed through its collaboration with Swift and the broader banking ecosystem.
The company positioned the initiative alongside several of its existing real-time and interoperable capabilities, including:
- Citi’s participation in Swift’s ledger initiative
- Citi Custody+
- 24/7 USD Clearing
- Citi Token Services
- WorldLink® Payment Services
Citi stated that these capabilities form part of its broader strategy to support interoperable, multi-bank, real-time and always-on movement of money, liquidity, securities and collateral across borders.
Access Through Swift’s Global Banking Network
The Swift payments scheme is available globally to the 12,500 financial institutions connected to Swift.
Citi stated that the new capability is being offered specifically to its participating bank clients.
Through their existing Swift connection, participating clients can access multiple domestic real-time payment networks without establishing separate local accounts or deploying new local infrastructure for those markets.
This structure provides a common connectivity model for accessing participating instant payment markets.
Historical Requirements for Multi-Market Instant Payments
Citi stated that access to instant cross-border payments across multiple countries has historically required financial institutions to establish arrangements within each individual local market.
These arrangements could include:
- Opening separate accounts in local markets
- Establishing bilateral agreements with individual partner banks
- Developing custom integrations with local clearing systems
Citi’s multi-market solution is designed to mitigate these requirements by connecting participating bank clients to multiple domestic real-time payment networks through their existing Swift connection.
Debopama Sen on the Initiative
Debopama Sen, Head of Payments, Services at Citi, described the direction of the initiative toward real-time and interconnected banking.
“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. Combined with Citi’s global network, this initiative enhances speed, transparency, and reach while helping clients meet evolving expectations for how money moves. We’re proud to continue working with Swift to help advance the future of global payments.”
Initial Instant Payment Markets and Currencies
Citi stated that it has enabled real-time payments through the Swift payments scheme using established instant payment rails and mature ISO 20022 (MX) capabilities.
The currently identified payment markets include:
- AUD — NPP: Australian dollar payments through the New Payments Platform
- GBP — FPS: British pound payments through the Faster Payment System
- INR — IMPS: Indian rupee payments through the Immediate Payment Service
- USD — Citi U.S. Clearing: Expanded USD Clearing capabilities enabling participating banks to send U.S. dollar payments credited directly to Citi account holders in real time
Citi stated that the USD capability represents an expansion of its participation in the Swift payments scheme to include the United States.
Expanded USD Clearing Capabilities
Citi stated that it has expanded its USD Clearing capabilities to allow participating clients to transfer funds directly to Citi U.S. beneficiaries.
Under the expanded capability, participating banks can send U.S. dollar payments that are credited directly to Citi account holders in real time through Citi’s internal network.
This forms part of the multi-market payment capabilities delivered through Citi’s broader Swift connectivity.
Global Network and Swift Connectivity
Citi stated that its global network, mature MX-enabled capabilities and connectivity to the Swift payments scheme allow clients to bring new payment capabilities to market more quickly.
The solution is designed to simplify access to multiple payment markets while using established payment infrastructure and messaging capabilities.
The initiative therefore combines:
- Citi’s global banking network
- Global Clearing
- WorldLink® Payment Services
- ISO 20022 (MX) capabilities
- Swift connectivity
- Domestic real-time payment rails
Leigh Amaro on Cross-Border Payments
Leigh Amaro, Chief Executive, Americas at Swift, emphasized the role of collaboration across the financial industry in developing cross-border payment capabilities.
“Industry collaboration is essential to delivering the faster, more transparent and more predictable cross-border payments experience consumers have come to expect. As usage of Swift’s retail payments framework grows and more corridors become active, greater certainty over cost and delivery time, full-value transfers and end-to-end visibility into international payments will become a reality for more people and businesses around the world.”
WorldLink® Payment Services
Citi stated that the launch builds on its broader suite of real-time account-to-account payments solutions through WorldLink.
The offering combines:
- Cross-border instant payments
- Real-time wires
- Account-to-account payments
- Integrated foreign exchange
- Wallet payments
- Card payments
Through one relationship, clients gain direct connectivity to:
- Nine instant payment schemes
- Near real-time wires in 20 currencies
- 54 markets
Citi stated that WorldLink offers payments in 135 currencies, with integrated FX across more than 4,500 currency pairs.
In addition to account-to-account payments, clients can also use the service to pay into wallets and cards.
Citi’s Broader Real-Time Payments Capabilities
The new Swift payments scheme capability sits alongside Citi Services’ existing real-time financial infrastructure.
Citi specifically referenced its work across:
- Swift’s ledger initiative
- Citi Custody+
- 24/7 USD Clearing
- Citi Token Services
- WorldLink® Payment Services
Citi stated that these capabilities support its strategy for interoperable, multi-bank, real-time and always-on financial movement across borders, covering money, liquidity, securities and collateral.
About Citi
Citi is a banking partner for institutions with cross-border needs, as well as a global wealth management provider and personal bank in the United States.
- Global reach: Citi does business in more than 180 countries and jurisdictions.
- Client base: Corporations, governments, investors, institutions and individuals.
- Services: A broad range of financial products and services.
- Cross-border capabilities: Citi provides financial infrastructure and services supporting international banking and payments.
Citi stated that its multi-market instant payments launch forms part of its broader efforts to support real-time, interconnected movement of money, liquidity, securities and collateral across borders.
Media Contact
For additional information, visit citi.com.
Source Attribution
Source: Company announcement
