Citi Launches Digital Onboarding for Institutional Clients through CitiDirect BE®
HIGHLIGHTS
New York and London – Citi's Treasury and Trade Solutions (TTS) has launched CitiDirect BE® Digital Onboarding setting new standards of excellence for client experience.
The new digital account opening experience for institutional clients is now available in North America and across six countries in Western Europe. This groundbreaking solution will be rolled out across the rest of EMEA, Asia Pacific and Latin America in the coming quarters.
The new solution provides Citi's clients with an accelerated onboarding experience, replacing the legacy paper and courier based documentation process with a digital platform, including the use of electronic signatures, as well as leveraging existing data assets to complete Know Your Customer (KYC) and account opening requirements.
Through the new solution, clients will be able to complete their account openings within two days. In addition to saving time, clients will not have to interact with as many touchpoints and will be able to manage their account opening processes with greater flexibility, and increased information. CitiDirect BE® Digital Onboarding comes off the back of a global documentation rationalization program, reducing over 70% of service agreements and forms.
"Across Citi's Treasury and Trade Solutions we are digitizing our core banking capabilities, processes and platforms, from front to back, to improve the way clients interact with us and use our products and services," said Naveed Sultan, Global Head of Citi's Treasury and Trade Solutions. "CitiDirect BE® Digital Onboarding is an extension of these initiatives—of digitizing the client experience end-to-end."
Naveed Sultan added: "Citi continues to use the latest technologies such as artificial intelligence and machine learning to develop solutions that help our clients achieve their global operational efficiency, control and working capital goals. TTS continues its pursuit of delivering the best possible experience by collaborating with clients to launch leading-edge solutions."
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.
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CitiDirect BE® Digital Onboarding
CitiDirect BE® Digital Onboarding features a simple intuitive interface that guides users through the onboarding process, including account opening and KYC requirements, and allows them to provide their documents digitally. The solution also provides clients with a digital dashboard, which allows them to track the progress of their account opening.
CitiDirect BE® and CitiConnect®
CitiDirect BE® and CitiConnect® are a part of Citi's Treasury and Trade Solutions' award winning digital banking product suite. CitiDirect BE® is Citi's institutional digital banking platform available online, as well as on mobile and tablet devices. CitiDirect BE® also offers biometrics, world class security and controls, as well as machine learning. CitiConnect® is Citi's industry leading suite of institutional connectivity options, including APIs, API Developer Portal, ERP Integrator options as well as connectivity to client's blockchain environment using CitiConnect® for Blockchain.
Citi's Treasury and Trade Solutions
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 90 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.
Media Contacts:
Citi London: Belinda Marks, +44 (0)207 508 3082, Belinda.marks@citi.com
Citi New York: Nina Das, 212-816-9267, nina.das@citi.com
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