Citi Named World's Best Digital Bank and Best Corporate/Institutional Digital Bank for 2023 by Global Finance Magazine

Rhea-AI Summary

Citi (C) named Best Digital Bank 2023 by Global Finance Magazine, winning multiple regional and subcategory awards and 73 country awards. Citi's digital solutions show significant YOY growth in active users and API calls, reflecting the institution's commitment to cutting-edge technology and client-centric approach.

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• Citi named Best Digital Bank 2023 by Global Finance Magazine
• 15% YoY growth in cumulative active users for CitiDirect®
• 62% increase in mobile monthly active users compared to 2022
• CitiConnect API processed three billion API calls in 2023, YTD, double the volume processed in 2022

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Wins multiple regional and subcategory awards and 73 country awards

NEW YORK--(BUSINESS WIRE)-- Citi has been named Best Digital Bank 2023 by Global Finance Magazine. This marks 22 consecutive years of recognition as a global banking leader by the publication. Global Finance also named Citi Best Corporate/Institutional Digital Bank Globally, as well as best in several regional categories.

“With artificial intelligence and machine learning rapidly advancing, the standards for the best digital offerings are constantly evolving,” said Joseph Giarraputo, founder and editorial director of Global Finance. “Global Finance’s Best Digital Bank awards honor those financial institutions blazing the digitalization way.”

"Citi is honored to be recognized by Global Finance Magazine as the World's Best Digital Bank for 2023,” said Shahmir Khaliq, Citi’s Head of Services. “We are using technology to transform our treasury operations and meet the evolving digital needs of business in this complex global landscape. Our highly client-centric approach has allowed us to be laser-focused on delivering digital solutions and services that enable our clients to take full advantage of global growth opportunities today and well into the future.”

Citi’s digital solutions continue to help institutional clients address their treasury needs as seen by their YOY growth:

• CitiDirect® - Citi’s next-generation banking platform that provides one-click access to global transaction capabilities has experienced another year of high growth across its suite of digital solutions with 15% YoY growth in cumulative active users and 4% YoY growth in the total number of clients. Mobile monthly active users also increased by 62% compared to 2022.

• CitiConnect API* – Citi’s real-time connectivity platform, launched in 2017, has processed three billion API calls in 2023, YTD, which is double the volume processed in 2022, showing a tremendous growth rate of 150% YOY. This has been driven by the rapid adoption of APIs by corporate and FI clients and an improved client experience, with clients now able to test APIs in Citi’s sandbox in less than 24 hours.
  *Application Programming Interface

“As institutions rapidly integrate next-gen digital solutions, they are able to generate a tremendous volume of internal data that their treasury teams can use to make smarter business decisions,” said Naveed Anwar, Global Head of Digital and Data, with Citi’s Treasury and Trade Solutions. “At Citi, we work with our clients, leveraging new technology to ensure their data can be mined for key insights to inform critical treasury decisions, such as optimizing liquidity and improving funding and investing activities. This award recognizes our investments in cutting-edge digital technology and our commitment to delivering the best client experience and the highest quality service in the industry.”

Citi received top honors across global, regional and country categories including:

Global Awards:

• Best Digital Bank
• Best Corporate/Institutional Digital Bank

Global Sub-Category: Best Corporate/Institutional Digital Banks:

• Best Online Cash Management Services
• Best Online Treasury Services
• Best Mobile Banking Adaptive Site
• Best Open Banking APIs

Regional and Country Awards:

• Best Corporate/Institutional Digital Bank – Africa
• Best Corporate/Institutional Digital Bank – Latin America
• Best Corporate/Institutional Digital Bank – Middle East
• Best Corporate/Institutional Digital Bank – North America
• Best Consumer Digital Bank - Latin America (Citibanamex)

For a complete list of the winners, click here.

About Citi

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20231130348768/en/

Media:

Nina Das

Citi Global Communications

+1 (212) 816-9267

Nina.Das@citi.com

Source: Citi

FAQ

What awards did Citi (C) win for its digital banking services in 2023?

Citi won awards such as Best Digital Bank and Best Corporate/Institutional Digital Bank globally, as well as regional awards for Africa, Latin America, Middle East, North America, and subcategories like Best Online Cash Management Services and Best Mobile Banking Adaptive Site.

What is the YOY growth in active users for CitiDirect®?

CitiDirect® experienced 15% YoY growth in cumulative active users and a 62% increase in mobile monthly active users compared to 2022.

How many API calls did CitiConnect API process in 2023?

CitiConnect API processed three billion API calls in 2023, YTD, double the volume processed in 2022, showing a tremendous growth rate of 150% YOY.