Leading global banking giant Citibank has entered into a strategic alliance with Timesofmoney to offer seamless and secure currency e-remittance services to its customers.

According to the agreed terms, the bank will deploy TimesofMoney's transaction processing platform to offer online money remittance facility to its NRI customers in Singapore.

The facility will enable the bank customers to remit fund directly from their bank account into the beneficiary/receiver's account in India without any hassles.

Commenting on the move, Avijit Nanda, president of TimesofMoney said: "We are delighted to extend our partnership with Citibank and believe that this association will go a long way to strengthen our relationship and help us set new industry benchmark. Our capability, industry expertise and understanding of the remittance market helped us gain credibility and win confidence. We endeavour to constantly support the banking industry through our technology solutions and expertise to enable them to provide remittance services to their international and domestic customers."

The two corporates had earlier collaborated to offer a similar a service for the US NRI customers of the bank.

A leading online payment service provider, TimesofMoney (TOM) is an undertaking of Times Internet Ltd., a wholly owned subsidiary of media giant, the Times Group. The company provides various services like money-transfers, e-payments, co-branded cards and NRI services.