Citi Named Best Digital Bank in Asia By Global Finance Magazine
November 19 2015 - 10:27AM
Business Wire
Citi has been recognized as Asia’s Best Digital Bank for 2015 by
Global Finance magazine, picking up Best Corporate/Institutional
Digital Bank and Best Consumer Digital Bank in the region.
The annual competition evaluates online and mobile banking
applications. Winners were selected based on the strength of
strategy for attracting and servicing online customers, success in
getting clients to use web offerings, growth of the online customer
base, breadth of products offered, evidence of tangible benefits
gained from Internet initiatives and web site design and
functionality.
“Technology and digitization are transforming how we serve
clients. From credit cards to ATMs, Citi has a history of embracing
new technologies to transform how it serves clients. In Asia, we
have had good success with innovation including new hi tech
branches that have since been rolled out globally and our priority
is to be the world’s leading digital bank. I would also like to
thank our clients whose trust in Citi makes these awards possible,”
said Anand Selva, Head of Consumer Banking Asia Pacific at
Citi.
Commenting on the Best Corporate/Institutional Digital Bank win,
Amol Gupte, Head of Treasury and Trade Solutions Asia Pacific at
Citi said, “We are committed to continuously harness innovation and
digitization to help clients better adapt their operating models to
shifting market and business demands. Our dedication to digital
banking has helped deliver impactful results – making our products
simpler, more convenient and flexible, and allowing companies to
have improved visibility over their treasury flows in ways that
were not previously possible. This award is a testimony to our
drive to enhance client experience through digitization, as well as
our strong partnership with clients.”
Citi has been investing in digitising its business in Asia to
support the changing preferences of its clients. This has included
launching mobile banking in all the 12 markets in which the bank
operates consumer businesses in the region.
The bank is also actively searching out new solutions. This
includes via the Citi Mobile Challenge to help develop the next
generation of Fin Tech solutions from this region.
The most recent challenge in Asia drew 1,900 registrations and
close to 80 Fin Tech teams showcased their Fin Tech solutions at
demo days in Bengaluru on November 3, Singapore on November 6,
Sydney on November 10 and Hong Kong on November 12. The winners
will be announced on December 15. Citi is confident that the
competition along with its own Consumer Innovation labs will help
accelerate and uncover new and exciting opportunities for the bank
to develop transformational approaches to banking.
Speed, simplicity and ubiquity are guiding Citi’s use of
technology. New Citi branches around the world are taking on the
Smart Banking model, with interactive touch panels,
video-conferencing capabilities and full-service banking from
iPhones and iPads. First launched in Asia in 2009, they have since
been rolled out globally. These branches bring in two to three
times more new clients than traditional branches. They are also
going paperless and wireless. Nearly 98% of all Citi’s retail
transactions in Asia are now via non-branch channels and around 20%
of credit cards are now acquired via digital channels.
On the institutional side, Citi Treasury and Trade Solutions
(TTS) enables our clients' success by providing an integrated suite
of innovative and tailored cash management and trade finance
services to multinational corporations, financial institutions and
public sector organizations across the globe. Based on the
foundation of the industry's largest proprietary network with
banking licenses in over 100 countries and globally integrated
technology platforms, TTS continues to lead the way in offering the
industry's most comprehensive range of digitally enabled treasury,
trade and liquidity management solutions.
CitiDirect BESM, Citi’s institutional e-banking platform serves
as the foundation of its online banking strategy, providing a
single, centralized point-of-access to a full range of global cash,
trade, liquidity and investment services. It is available across 95
countries in 24 languages and transacts in 140 currencies.
CitiDirect BESM has been ranked number #1 globally for nine
consecutive years in the prestigious Online Services Benchmarking
Study by Greenwich Associates, an independent research and
consulting firm.
In 2014, TTS processed more than 100 million e-payment
transactions on its CitiDirect BESM platform in Asia, of which
US$120 billion in transaction value was done on CitiDirect BESM
Mobile and US$1.47 billion in transaction value on the new
CitiDirect BESM Tablet.
In Asia, Citi is also the only bank to launch Virtual Accounts
for corporate clients across 16 markets, as well as Virtual Card
Accounts across seven markets. Virtual Accounts is a payment
mechanism in which a corporate issues a special purpose virtual
account number to customers for payments, whilst Virtual Card
Accounts is a market-leading solution which generates a single-use
account number for each card transaction, ensuring secure domestic
and cross-border B2B payments.
In the awards announced in late October, Citi was also named
Best Overall Global Digital Bank.
About Citi
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments
and institutions with a broad range of financial products and
services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and
wealth management.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
http://blog.citigroup.com | Facebook: www.facebook.com/citi |
LinkedIn: www.linkedin.com/company/citi
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Citigroup Inc.James Griffiths,
+852-2868-7668james.a.griffiths@citi.com
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