Should I (client) join a Citi CUG?
Corporates can benefit the most from joining a Citi CUG. For Corporates, CUGs provide opportunities to improve their connectivity and straight through processing (STP) of financial transactions with their banks. Joining a Citi CUG provides corporates with access to a reliable, secure private network and standardized security for all communications with us. You can communicate in standard global delivery platform, with a single connection and security model thereby avoiding the need to maintain multiple proprietary systems. Finally, because Citi’s high volume use of SWIFT entitles us to a premier pricing tier, Citi’s revenue billing CUG provides our corporate clients with the most advantageous message transmission fee schedule. Companies have testified that the benefits of joining SWIFTNet outweigh the costs. Some have openly a desire to replace their own internal networks with a SWIFT CUG. Corporates need to fully integrate their back office systems with SWIFT to fully benefit. CUGs ar
