For Immediate Release
Citigroup Inc. (NYSE: C)
February 23, 2017

Banking on a Digital Future, Citi Launches Groundbreaking Online Programs, Partnerships

Manila – With nearly half of its clients signed up for its digital banking services, Citi Philippines continues to push the digital envelope, this time with the country's first and only online credit card application and approval program.

According to David Stoughton, Director for Credit Payment Products, clients can expect to get credit approval online, after they complete the simplified application form and submit digitized copies of required documents.

"We were one of the first banks to launch an online presence and also one of the pioneers in attracting customers through our website," recalled Stoughton. "At that time, we were only capturing the information online when they apply, but the processing still takes place offline including the credit review. With this latest service, we are excited to break new ground for the industry and deliver another innovation for the Filipino consumer."

With the digitized application and approval process, a client will know in minutes if he or she is qualified for a Citi credit card. "This is a game changer as we continue to look at our products and services, and accelerate digitization to deliver remarkable client experiences," said Stoughton.

Citi also digitized its rewards – clients who prefer to submit applications through promotion booths in shopping centers or travel exhibits because of attractive turn-in gifts will be pleased to discover they won't be missing out just because they will do it online.

From now until April 30, complete an application online and receive an electronic voucher you can redeem for Auntie Anne's pretzels. When approved, plus with a qualifying purchase, clients who are getting their first Citibank credit card will also get a Fitbit Charge 2 fitness wristband.

The country's largest foreign bank recently unveiled another strategic digital partnership, this time with Amazon. The Philippines will come next after Thailand where credit cardholders can now use their Rewards Points to pay for purchases at Amazon.com.

"Our Consumer Bank business in Asia draws some 20 million visits to our online properties every month and between 90 to 95 percent of all transactions already happens outside a branch," Stoughton. He added that regional figures show one out of every four new credit card accounts acquired comes from digital sources and over 50 percent of clients are actively using digital banking channels, up from 30 percent three years ago.

Over the past five years, traffic in Citi branches across Asia has declined 50 percent as digital transactions grew over 100 percent. While digital banking is not completely replacing the branch experience, the nature of branch interactions is changing, and Citi's strategy is now aimed at a combination of bricks and clicks.

"In our drive to digital, we have also become the credit card brand that online and mobile retailers prefer. This initiative presents a bright outlook in a country which greatly embraces the growth of online shopping and lifestyle," added Stoughton.

On average, Citi announced a new digital innovation or partnership fortnightly in the last 12 months across Asia. During 2016, Citi announced strategic partnerships in leading digital ecosystems across the region. Some of these included Alipay and WeChat in China and Line in Thailand and Taiwan. The bank also formed digital credit card partnerships with the likes of Airbnb and Uber in various countries. The bank's social media followers in Asia grew from 3 million to over 10 million during 2016.

In the Philippines, its regional digital partners include Booky, an offline restaurant finder; Zennya, the world's first spa on-demand app; Lazada, the leading online shopping mall in the country; and Grab, Southeast Asia's leading ride-hailing platform, to name a few.

Over the last year, Citi launched the newly-refreshed Citi Mobile App in Asia, featuring easy-to-use functionality and interfaces such as Snapshot and Touch ID, which has seen over 2 million downloads to-date. The bank also was the first to launch Voice Biometrics across the region which has since received more than 700,000 sign-ups from customers with over 1 million clients consenting.

"We are focused on becoming the world's leading digital bank, and we will continue to leverage on our global network for strategic partnerships even as we develop and deliver digital products and services," said Stoughton.

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.

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