CitiDirect BE® Earns Top Ranking in Greenwich Associates Study

Rhea-AI Summary

CitiDirect BE, Citi's online and mobile banking platform, has been recognized for the fifteenth consecutive year as the top digital banking solution in the Greenwich Associates’ 2020 Digital Banking Benchmarking study.

This survey evaluates over 50 factors across digital banking platforms. Citi’s portfolio, including CitiDirect BE Mobile and CitiConnect connectivity suite, was praised for its comprehensive capabilities, especially during the challenges posed by the Covid-19 pandemic.

Investments in innovation and co-creation with clients contributed to this accolade.

Positive

• CitiDirect BE ranked top in the 2020 Greenwich Associates Digital Banking Benchmarking study for the fifteenth year.
• The evaluation included expanded criteria, highlighting Citi's comprehensive digital banking solutions.
• Citi's innovative capabilities were crucial during the Covid-19 pandemic, enhancing remote treasury operations.

Negative

• None.

CitiDirect BE®, Citi's institutional online and mobile banking platform, achieved the top ranking in Greenwich Associates’ 2020 Digital Banking Benchmarking study. This marks the fifteenth consecutive year that Citi received the best-of-class ranking among a distinguished group of both global and regional competitors.

The annual survey, one of the most recognized benchmarking studies in the institutional banking space, assesses the key features and functionality that define "Best of Breed" digital banking platforms. It includes more than 50 evaluation factors and some 1600 sub-criteria, spanning from cross-product integration and navigability to online support and education to user administration and fraud prevention.

Greenwich Associates’ evaluation of Citi’s capabilities encompassed its entire portfolio of integrated digital institutional banking solutions, including the CitiDirect BE banking platform and CitiDirect BE Mobile; CitiConnect® connectivity suite, including SWIFT, file sharing, API and ERP integration solutions; CitiFX Pulse; and supporting services, such as digital onboarding. This year’s evaluation also included over 200 new criteria spanning areas such as multibank capabilities, supply chain services, virtual account capabilities and active investment services.

“We continue to invest heavily in new capabilities and enhance existing solutions, which have been invaluable to our clients during this pandemic year. Receiving top rankings in the Greenwich Associates Digital Banking Benchmarking study is a testament to our commitment to investing in innovation to deliver market-leading solutions,” said Tapodyuti Bose, Global Head of Digital Channels and Data, with Citi Treasury and Trade Solutions. “A key factor in achieving these goals is engaging clients in our innovation process, and we are proud to share this award with them. Co-creating with clients, strategic fintech partners and industry associations, enables us to develop new features and services that help our clients manage and simplify their operations in new ways, while also providing them the flexibility to respond to the shifting digital demands of their businesses – both today and in the years to come.”

Chris McDonnell, Managing Director at Greenwich Associates and global manager for the Digital Banking Benchmarking study added, “The Covid-19 pandemic created real challenges for treasury departments faced with keeping their operations running smoothly while staff members pivoted to working remotely. The strength of Citi’s solutions really came to light during this time. Its unique digital account opening service and e-signatures capabilities, for example, makes it easier for its clients to quickly modify system enablements for treasury staff and security managers. And the CitiDirect BE App, along with its biometric and mobile authentication services, provides remote CitiDirect users with quick and easy login, in addition to the ability to transact and access data from mobile devices. A large part of Citi’s success derives from its ability to keep its finger on the pulse on the needs of its clients and its willingness to embrace new technologies and create digital solutions that support and enhance critical corporate treasury functions, during good times and challenging times alike.”

Greenwich Associates is a leading global provider of data, analytics and insights to the financial services industry. The Digital Banking Benchmarking study serves as a barometer of market trends and development priorities that can provide a forward-view of next-generation capabilities. Leading banks and non-bank providers are evaluated in the study annually with the bank group consisting of elite global and regional peers in the transaction banking industry.

Citi Treasury and Trade Solutions (TTS) helps enable 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 a comprehensive range of digitally enabled treasury, trade and liquidity management solutions.

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About 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.

Additional information may be found at www.citigroup.com| Twitter: @Citi | YouTube: www.youtube.com/citi| Facebook: www.facebook.com/citi| LinkedIn: www.linkedin.com/company/citi

View source version on businesswire.com: https://www.businesswire.com/news/home/20210108005576/en/

FAQ

What is CitiDirect BE's ranking in the 2020 Greenwich Associates Digital Banking Benchmarking study?

CitiDirect BE was ranked top for the fifteenth consecutive year.

How did Citi's solutions perform during the Covid-19 pandemic?

Citi's solutions were vital for treasury departments, offering services like digital account opening and e-signatures.

What factors were evaluated in the Greenwich Associates study for Citi?

The study assessed over 50 evaluation factors and 1600 sub-criteria including integration, navigability, and user support.

How does Citi involve clients in its innovation process?

Citi engages clients, fintech partners, and industry associations to co-create and enhance its solutions.

What services does Citi Treasury and Trade Solutions offer?

Citi TTS provides tailored cash management and trade finance services to corporations and institutions globally.