Citi expands new online banking platform to over 70 countries

Infotech Lead America: Citi has expanded its CitiDirect Banking Evolution (BE) service — its new online banking platform — to over 70 countries with a client-friendly upgrade.

Citi, which has a network in more than 97 countries, says CitiDirect BE is expected to be available in over 95 countries by mid-year.

At present Citi’s transaction services supports over 75,000 clients globally.

CitiDirect BE represents a multi-year investment and delivers a new client experience with a contemporary design, enhanced navigation and optimized user interface.

CitiDirect BE provides authorized users with full visibility and control of their banking accounts and activities. As of the fourth quarter of 2012, Citi’s transaction services held on average $428 billion in liability balances and over $13.2 trillion in assets under custody.

Citi says business intelligence and analytics capabilities help enterprises gain insight into information to facilitate assessment of operational performance and improvement opportunities.

Moreover, CitiDirect BE features allow clients to analyze current results relative to historical metrics while filtering information by selected criteria. The offering features an electronic bank account management (eBAM) module, using digital identities, that streamlines the signatory management and account-opening activities.

Naveed Sultan, global head of Treasury and Trade Solutions at Citi, said: “Our technology investments are focused on bringing clients valuable transactional information that will significantly improve their decision-making abilities.”

CitiDirect BE also offers clients a mobile window into their bank accounts with CitiDirect BE Mobile. Since commercializing the application in late 2011, CitiDirect BE Mobile has processed more than $40 billion in total transaction value.

Later in the year, Citi expects to roll-out CitiDirect BE to tablets in select countries.

Meanwhile, Citibank launched Citi Payment Analytics tool available through CitiDirect BE, Citi’s market leading online banking platform, in May 2012. It provides a consolidated view of their payments data via scorecards and easy-to-read graphics.

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