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Global Finance Magazine has announced its best digital banks in Asia in July and Citi’s digital progress across the region was recognised. The awards were determined by the editors of the magazine in partnership with judges from Infosys, the technology company.
In the country awards for Consumer Banking, Citi was named best digital bank in Australia, India, Philippines and Vietnam. For India this was the eighth year in a row for the consumer digital award. At a regional level, Citi was named Best Consumer Bank site.
In the country awards for Corporate/Institutional Banking, Citi was named best digital bank in Australia, Bangladesh, Hong Kong, India, Indonesia, Malaysia, New Zealand, Philippines, South Korea, Sri Lanka, Thailand and Vietnam. In the regional sub categories Citi was named best digital bank for Trade Finance, Corporate Banking, Information Security, Treasury Services, Mobile Banking and Best Mobile Banking app.
Citi’s digital strategy is built around delivering remarkable banking experiences to our customers wherever they are.
Citi draws 20 million visits, 12 million of them unique to our online consumer properties every month in Asia. Around 95% of transactions in Asia happen outside a branch and over 50% of clients in Asia are now actively using digital banking channels – up from 30% three years ago. With all the digital capabilities we have available, one out of every five new credit card accounts acquired comes from digital.
“This recognition acknowledges our continued success in the execution of our digital strategy which is characterised by innovation and client experience. Whilst being very proud of this award we at Citi Sri Lanka remain committed towards enhancing the overall client experience and at the same time look forward to continued growth in this market,” said Head – Treasury and Trade Solutions Sri Lanka Dilshan Seneviratne.
In the corporate and institutional space, the global rise of emerging market corporates and the expansion of global multinationals have accelerated the development of sophisticated and innovative digital solutions.
Citi’s digital banking platform CitiDirect BE is interoperable with its clients’ systems and networks, and is accessible in 95 countries, 25 languages and 140 currencies via desktop, mobile and tablet devices. In 2015, CitiDirect BE processed 344.2 million transactions, valued at $ 48.6 trillion. In Asia, 100% of its clients use CitiDirect BE, with usage and transactions over the mobile and tablet devices doubling in 2015.
The CitiDirect BE mobile solution, which was launched four years ago, saw a new milestone in February 2016, with the amount transacted through mobile devices hitting $ 1 trillion. In Asia, the value of mobile transactions hit $ 425 b, with India alone seeing more than $ 130 b.
