Citi Named World’s Best Digital Bank 2021 by Global Finance Magazine

Rhea-AI Summary

Citi has been recognized as the World’s Best Digital Bank by Global Finance for the 20th consecutive year, reflecting its robust digital solutions and innovative services that assist clients in adapting to industry changes. Highlights of its digital growth include a 12% increase in CitiDirect users and a remarkable 163% rise in API usage. Citi also secured top honors across various global and regional categories, reinforcing its commitment to delivering high-quality cash management and treasury services.

Positive

• 20 consecutive years as World's Best Digital Bank.
• 12% annual growth in CitiDirect users.
• 19% increase in mobile users annually.
• 125% growth in digital account openings year-over-year.
• 163% annual growth in API usage.
• 97% annual growth in Instant Payments transaction volume.

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• None.

Citi Also Honored with Multiple Regional and Sub-category Awards

NEW YORK--(BUSINESS WIRE)-- Citi has been named the World’s Best Digital Bank by Global Finance magazine for the 20th consecutive year.

“Over the last year, our digital capabilities have given us the necessary resilience to support our customers through disruptive changes both in their business models -- and in our industry. As we help our clients adapt to these new conditions, we are proud to be recognized as their best provider of innovative digital solutions and services, helping them on their digital transformation journey,” said Shahmir Khaliq, Global Head of Treasury and Trade Solutions, Citi.

Commenting on this year's awards, Joseph Giarraputo, President and Publisher at Global Finance, said, “Incubating talent and ideas at global Innovation Labs enables Citi to provide its clients with resilient cash management solutions that are both agile and scalable, while an impressive catalogue of APIs allows treasuries to choose the solutions they require and integrations that suit their daily treasury management processes.”

"This award is a true testament to Citi’s efforts in driving innovation and improving the client experience as we continue to invest in our award-winning omni-channel delivery platforms such as CitiDirect^® and CitiConnect^®,” said Naveed Anwar, Global Head of TTS Digital with Citi's Treasury and Trade Solutions. “Knowing our customers and understanding their needs is essential to providing a personalized experience, high quality service as needed, which will better serve our clients today and pave the road for future needs.”

Citi’s institutional digital solutions have experienced high growth in usage over the last year. Highlights include:

- CitiDirect users growing over 12% annually

- Mobile users up by 19% annually

- High rates of digital account opening -- over 125% from the previous year.

- Unprecedented growth in API usage –163% growth annually

- Instant Payments Transaction Volume – over 97% annually

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 multiple global and regional categories including:

Global Awards – Overall Winner:

• Best Corporate/Institutional Digital Bank

Corporate/Institutional Global Awards:

• Best Online Cash Management Services
• Best Online Treasury Services
• Best Integrated Corporate Banking Site
• Best Mobile Banking Adaptive Site
• 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
• Best Digital Bank in Western Europe

Citi’s 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.

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/20211123005452/en/

Media: Nina Das

Email: nina.das@citi.com

Source: Citi

FAQ

What did Citi achieve this year regarding digital banking?

Citi was named the World’s Best Digital Bank by Global Finance for the 20th consecutive year.

What are the growth statistics for CitiDirect users?

CitiDirect users grew over 12% annually.

How much did API usage increase for Citi?

API usage at Citi saw a significant increase of 163% annually.

What awards did Citi receive besides being the World’s Best Digital Bank?

Citi received top honors in multiple categories such as Best Corporate/Institutional Digital Bank and Best Online Cash Management Services.

What is the significance of the awards received by Citi?

The awards highlight Citi's commitment to innovation and improving client experience in digital banking.