18:41 | 20/08/2018 Finance - Banking
Recognized for excellence in digital banking and innovation, Citi swept a total of 36 wins across the magazine’s Corporate/Institutional and Consumer Digital Bank Awards, reaffirming the bank’s commitment to innovation and excellence in digital banking across its Corporate/Institutional as well as Consumer Banking business.
Citi Vietnam Wins Global Finance magazine’s 2018 Best Corporate/Institutional Digital Bank Awards for three years consecutively
In the magazine’s World’s Best Corporate/Institutional Digital Bank Awards, Citi was named Best Digital Bank in 16 markets – Australia, Bangladesh, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Pakistan, Philippines, South Korea, Sri Lanka, Taiwan, Thailand and Vietnam.
The bank also won five sub-category awards, including Best Online Cash Management, Best Online Treasury Services, Best in Mobile Banking, Best Mobile Banking App and Most Innovative Digital Bank.
Citi was the first global transaction bank to launch Application Programming Interfaces (APIs) for institutional clients in 2017. Close to 20 APIs across a wide range of functionalities have been implemented. The bank also has the largest footprint in Virtual Cards in Asia across 11 markets, bringing automation and efficiency to supplier payments for clients. MobilePass – Citi’s app that generates dynamic passwords for digital access to accounts by corporate users – is now available across 14 markets in the region.
Being the leader of world class banking experiences, Citi Vietnam introduced two groundbreaking banking platforms, namely CitiDirect BE – the next collaborative online platform helping institutions increase transactional transparency, reduce fraud exposure and improve operational efficiency and Citi ® Supplier Finance – a global pioneering supply chain finance. The bank has consistently worked with clients through the recent years to move them to the Citidirect platform across desktop, mobile and tablet.
“Our strategy is to leverage technology to provide simple, digital, and global platforms and solutions for our clients. We continue to invest in continuous development and improvement our platforms and connectivity channels to drive this strategy. By leveraging technology to tie the local cash management and trade infrastructures into our global network and platforms, we are helping our corporate clients in Vietnam to be more digitally savvy and efficient in managing their treasury needs,” said Jared Mecham, Citi Vietnam Head of Treasury and Trade Solutions (TTS).
In the Consumer Digital Bank Awards, Citi was named Best Digital Bank in Australia, India, Indonesia, Philippines, Taiwan and Bahrain.
In sub-category awards, Citi was recognized for Best in Mobile Banking and Best Information Security and Fraud Management in Asia Pacific.
Anand Selva, Citi’s Head of Consumer Banking for Asia Pacific said, “Our ongoing transformation from an analog to a digital business continues to yield results and generate client-led growth. We continue to build digital relevance and scale by plugging into relevant digital ecosystems where our customers are active, simplifying processes and customer onboarding and leveraging data to offer our customers increasingly innovative and personalized products and services.”
From June 2017 to June 2018, the Asia Pacific Consumer Banking franchise added over 1 million new mobile clients. Mobile is now the most popular digital channel for Citi’s clients, with more than one in three digitally active clients choosing mobile. The past year also saw a number of digital global-firsts for Citi launched out of the region. The bank’s chatbot on Facebook Messenger was launched in Singapore early this year while video banking for Wealth Management was introduced to customers in India.