Hong Kong Citi has been named Digital Bank of the Year in Asia Pacific by The Asset Magazine in the publication’s annual Digital Awards 2022. In addition to the Asia Pacific win, Citi was recognized as Digital Bank of the Year in Hong Kong, India, Indonesia and Thailand. The bank also won Best Retail Social Media Banking Experience in Hong Kong and Best Retail Online Banking Experience in Singapore.
For our corporate, commercial and institutional clients, Citi opened over 7,500 accounts digitally in 2021, 80% more than in the previous year. We also processed close to 183 million Application Program Interfacing [API] calls last year, enabling our transaction banking clients to offer real-time services to their end consumers. As we expand our Instant Payments network for corporates in the region, we have also seen a 1.5 times increase in Instant Payments volumes between April 2021- March 2022 and April 2020 -March 2021.
For our affluent to high-net worth clients in the region, we are using our digital tools to complement the quality of advisory we offer while making it simpler for clients to engage with Citi through our digital channels. As we build out capabilities on our digital, including mobile banking platforms, we recorded a 75% year-on-year increase in digital mutual funds sales in 2021. A majority of products are now bought digitally, and one in two clients are acquired through digital channels.
Citi Plus, the bank’s digital-only banking proposition, which is live Hong Kong has seen a 58% year-on-year growth in new customers via digital channels since its launch in February 2021.
Peter Babej, Citi Asia Pacific Chief Executive Officer, said, “These wins are testament to Citi’s ongoing investments in digital banking and technology across our franchise to deliver pioneering products and exceptional client experiences. Digital banking is an important differentiator for Citi and we remain committed to advancing our progress in this area as we continue to grow our franchise in Asia Pacific.”
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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