BankingCiti Named World’s Best Digital Bank 2020

BusinessWire BusinessWireDecember 3, 20207 min

Citi has been named the World’s Best Digital Bank by Global Finance magazine for the 19th consecutive year.

“We continue to build a financial platform for digital commerce, and have been transforming our solutions over the last several years to provide a better client experience that is fast, easy, and flexible,” said Naveed Sultan, Chairman, Citi’s Institutional Clients Group. “These digitization efforts were a critical enabler for our clients’ continuity of business in 2020. In a world that is highly digitized, the power of our digital services contributed significantly to our clients’ success. More than ever it is imperative that Citi – as their banking partner – deploy the latest in data science and digital technologies to provide clients with fully digital, intelligently interconnected solutions and an end user experience that exceeds their expectations.”

Commenting on this year’s awards Joseph Giarraputo, President and Publisher at Global Finance Magazine, said, “The global pandemic and other marketplace trends, such as the growth in ecommerce, have really heightened the relevance of digital banking channels and services. Citi stands out as an organization that is on the pulse of what is happening, globally, and is able to convert digitization trends and technology advances into innovations and capabilities that benefit its corporate and institutional clients.”

“This award is an endorsement of Citi’s innovation and investment in Client Centric solutions,” said Tapodyuti Bose, Global Head of Digital Channels and Data, with Citi’s Treasury and Trade Solutions. “Over the last year, we have been laser-focused in enabling the digital rails for our clients’ evolving business models and have delivered on our promise of real time; 24/7, “intelligent” connectivity through our CitiDirect BE® online, and mobile banking platform and our suite of CitiConnect® solutions.”

The persistent growth in CitiDirect users (600K at end of Q3, 16% YoY growth) shows how Citi’s solutions are helping clients to adapt and thrive in the face of these challenging times. CitiDirect BE Digital Onboarding is now live in 49 markets, representing 76% of account opening volumes. In Q3 clients have opened 4,000+ accounts, >30% increase QoQ. The expansion of eSignatures has also enabled clients to set up new accounts and overcome obstacles while in contingency situations.

Citi was selected from more than 300 entries globally that were evaluated by a world-class panel of industry experts against criteria that included: strength of strategy for attracting and servicing digital customers, success in getting clients to use digital offerings, growth of digital customers, breadth of product offerings, evidence of tangible benefits gained from digital initiatives, and web/mobile site design and functionality.

In addition to being recognized as the World’s Best Digital Bank, Citi received the top honor in a number of global and regional award categories.

Global Awards – Overall Winner:

  • Best Corporate/Institutional Digital Bank

Corporate/Institutional Global Awards:

  • Best Online Investment Management Services
  • Best Online Cash Management Services
  • Best Online Treasury Services
  • Best in Mobile Banking Adaptive Site
  • Best Mobile Banking App
  • Most Innovative Digital Bank
  • Best Open Banking APIs

Corporate/Institutional Regional Awards:

  • Best Digital Bank in Africa
  • Best Digital Bank in Asia-Pacific
  • Best Digital Bank in Latin America
  • Best Digital Bank in Middle East
  • Best Digital Bank in North America

Consumer Global Awards:

  • Best Open Banking APIs

For more information about CitiDirect BE® and CitiConnect®, visit here.

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.

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