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Today In Digital-First Banking: Big Banks Endorse SWIFT’s New Transaction Platform; USALLIANCE To Modernize Cards With FIS System

Today In Digital-First Banking: Big Banks Endorse SWIFT’s New Transaction Platform; USALLIANCE To Modernize Cards With FIS System

June 24, 2021 at 11:14PM
by PYMNTS

In today’s top news in digital-first banking, SWIFT’s new transaction management system received an endorsement from six global financial institutions (FIs), while USALLIANCE Financial has chosen the FIS Payments One system. Plus, Citi has appointed a new sales leader for Treasury and Trade Solutions (TTS).

Big Banks Endorse SWIFT’s Global Transaction Management Platform

SWIFT’s new transaction management system garnered an endorsement from six global FIs, which are preparing to utilize the platform’s new features to allow for new offerings, strengthen efficiency and cut down on expenses when it rolls out in November 2022. Citi and Bank of New York Mellon, among others, confirmed that they are getting ready for the platform, according to a release. “We look forward to working with the wider SWIFT community to drive transformational change and to deliver this substantially improved payments experience directly to our clients,” Citi Global Head of Payments and Receivables, Treasury and Trade Solutions Manish Kohli said in a release.

USALLIANCE To Modernize Card Offerings With FIS Payments One Platform

New York state-based credit union (CU) USALLIANCE Financial has tapped the FIS Payments One platform to simplify and modernize its array of credit and debit card digital payment offerings for its members. USALLIANCE was founded in the 1960s and currently manages in excess of $2 billion in assets for more than 125,000 members. “As we sought to enhance our card offerings to our clients and cardholders, we found the FIS Payments One platform to be unique in the market for its simplicity, flexibility and advanced digital features,” Kevin Randall, EVP at USALLIANCE Financial, said in an announcement.

Citi Appoints Elms To Lead Sales For Treasury And Trade Solutions

Citi has appointed Steve Elms as the new TTS sales head for corporate, commercial and public sector clients. “We have an aggressive growth agenda for TTS. I am confident Steve will champion Citi’s Transformation efforts and Leadership Principles as we continue to strive for excellence, work together to serve our clients, and position Citi to win in an ever-changing world,” Treasury and Trade Solutions Global Head Shahmir Khaliq said in a memo.