A recent global survey of CEOs found that by 2024, 40% of commercial APPs will be sending data between various online platforms. With the continuous development and breakthroughs in the digital payments landscape, and increasing adoption of the hybrid working model, Citi discovered that more corporate clients have started using digital banking services, and would prefer services that are simpler, faster and more convenient.
To meet this client demand, Treasury and Trade Solutions of Citibank Taiwan Limited announced that it has upgraded its digital banking platform for corporate clients – CitiDirect ® online banking and the mobile app. The upgraded user interface will offer clients a better experience and can show multiple functions on one single page.
Vivian Cheng, Head of Treasury and Trade Solutions of Citibank Taiwan Limited, said, “We have seen an increased adoption of our digital platforms and services. In 2022, transaction volumes across our digital banking and mobile platform increased by around 24% compared to the previous year. We are committed to providing our clients with best-in-class products and services with the help of cutting-edge technology and offering a differentiated, outstanding client experience. To address clients’ needs and preferences, we redesigned our online and mobile digital banking platform and will continue to enhance our digital services.”
The upgraded CitiDirect® online banking platform provides real-time feedback. By accessing the platform, clients can browse their global accounts, and personalize their login credentials to ensure security while being much easier to login. Users can also customize their statements and generate reports per their preferences. In addition, the CitiDirect® mobile app enables biometric authentication and QR code scanning to facilitate access, making it possible for clients to replace their traditional physical banking tokens.
"Citi handles payments of around US$4 trillion a day and supports over 140 different currencies. We have built payment, cash management and trade financing capabilities on our integrated digital platform. The upgraded CitiDirect® mobile app allows clients to monitor their capital positions at a global level whenever needed, helping them to manage working capital more efficiently,” added Vivian.
Across the broader Asia Pacific region, Citi continues to see growing digital adoption by clients. In Asia Pacific alone, Citi processed close to 1.4 billion Application Program Interfacing [API] calls last year, enabling corporate clients to offer real-time services to their consumers.
Rishi Luthria, Citi’s Treasury and Trade Solutions Head of Platforms & Data Services, Asia Pacific said, “In today’s rapidly evolving world where digitization is critical to customer success, Citi's award-winning digital platform, CitiDirect®, is enabling our clients to maintain competitiveness while they continue growing their businesses. Being innovative and focusing on our client’s needs is at the core of everything we do at Citi. We continue to invest in our platforms and data solutions, striving to develop frictionless end-to-end user experience to help our clients succeed in the digital world.”
In recognition of Citi’s digital focus and progress, Citi was named Digital Bank of the Year in Asia Pacific by The Asset in 2022, as well as Best Bank – Global for the 20th straight year, and Best Corporate and Institutional Adviser – Global for the 8th straight year. Citi was also recognized as Bank of the Year at the IFR Asia Awards 2022 and Asia’s Best Bank 2022 by Euromoney.
Citi’s Treasury and Trade Solutions businesses provides innovative integrated services, tailor-made cash management and trade financing services to multinational companies, financial institutions and government departments around the world. Citi has the industry’s largest operating network, with banking licenses in more than 90 nations and a globally integrated technology platform. Citi continues to provide comprehensive, digital financial solutions to the industry.
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