Chemical And Citibank Race To Market Rival Corporate Confirmations Systems
TECHNOLOGY
The competition is heating up between two rival systems for corporate and financial customers to exchange confirmations electronically with their banks. Banklink, a sister company of Chemical Bank, and CrossMar, a Citicorp subsidiary, have both announced additional banks and customers signed up for their systems.
The Banklink treasury confirmations service, which was launched last fall, has added the London branches of Australia and New Zealand Banking Corp, Royal Bank of Canada, Swiss Bank Corp
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