Citigroup has launched a foreign exchange platform, CitiFX White Label, which will enable banks to create their own branded foreign exchange services that can be delivered over the internet at a low cost.

The platform is aimed at mid-sized and regional banks that are struggling with the costs of developing the technology infrastructure to deliver high-quality FX products and services. It provides an integrated technology and liquidity solution, based on Citigroup's FX liquidity capabilities and trading technology from Integral Development Corporation, the US-based capital markets applications developer.