Citi sees strong growth in digital banking usage in Asia


Posted at May 17 2014 08:02 AM | Updated as of May 19 2014 05:25 PM

MANILA, Philippines - Citi is seeing more clients accessing their accounts on digital channels in Asia, including the Philippines.

Citi said as of end April 2014, it has 7.4 million clients in Asia that are signed up for digital banking services, including mobile and Internet banking apps.

"Our aim is to be the world’s leading digital bank and in Asia we are seeing strong pick up for our digital banking services. Technology and digitization are transforming the way in which we serve our clients. Consumer preferences are changing and a generational shift in behavior is driving consumers to new digital channels,” said Jonathan Larsen, Head of Consumer Banking for Citi in Asia Pacific.

In the Philippines, users for Citi's digital channels are registering double-digit growth, with more than half of its client base accessing accounts digitally.

Citi has invested in technology to support the expansion of its consumer-banking business in the region.

For instance, Citi Philippines has partnered with Smart e-Money Inc. to combine the purchasing power of its credit card and the mobile technology of cellular phones.

Citi also launched "smart-banking" branches, which have interactive touch panels, video-conferencing capabilities and full-service banking from devices such as iPhones and iPads.

Citi also introduced next generation ATMs called Citibank Express, which offer all services available in a branch. The Philippines one of three markets in the region to have the Citibank Express.

CEO Batara Sianturi said they remain committed to bringing the future of banking to Filipino consumers.

"Whether it is in the space of digital payments, or redefining banking experience with a Smart and wired branch, our clients can continue to count on Citi to invest in the latest technology to anticipate their needs and make their banking experience both seamless and truly remarkable," he said.