For Immediate Release Citigroup Inc. (NYSE: C)

Citi Launches Digital Onboarding for Institutional Clients in Asia Pacific

April 11, 2019


Citi's new digital onboarding process in Asia Pacific and across its proprietary global network enables clients to open accounts in as quickly as two days

Asia Pacific – Citi has launched CitiDirect BE® Digital Onboarding for institutional clients in Asia Pacific, introducing a completely digitized onboarding process that enables clients to open accounts in as quickly as two days.

Using Citi's new digital onboarding solution, institutional clients can now complete Know Your Customer (KYC) requirements and account opening in a manner that better suits their need for speed, efficiency and flexibility. With the Asia launch, clients will also have immediate access to Citi's suite of core online banking and payment solutions upon account opening.

The solution went live in Singapore and Hong Kong last week, following from the launch of digital onboarding across other regions. CitiDirect BE® Digital Onboarding was first launched in the U.S. followed by six markets in Europe, Middle East and Africa in January 2019. The solution will continue be rolled out in additional markets worldwide, including in Asia, in the coming quarters.

The new digital solution replaces a mostly manual legacy paper-driven and courier-based documentation process and comes off the back of a global documentation rationalization program that reduced over 70 percent of service agreements and forms.

Clients can now complete their onboarding requests through a user-friendly interface on the CitiDirect BE® Digital Onboarding portal. The portal integrates the use of electronic signatures and existing data assets to complete KYC and account opening. In addition to saving time, clients will not have to interact with as many touchpoints and will be able to manage their account opening processes with greater flexibility and increased information.

Once in the portal, relevant data from a client's parent entity or existing data on the client is pre-populated, allowing the client to fill in only the additional information required. Using electronic signatures and the portal's digital document exchange feature, clients can then submit relevant documents and instructions electronically to complete an onboarding request.

Commenting on the launch of CitiDirect BE® Digital Onboarding, Asia Pacific Head of Citi's Treasury & Trade Solutions business Rajesh Mehta said, "We continue to invest in new technologies and leverage our digital capabilities to deliver an elevated client experience across our product offerings and network. As our clients manage their businesses through disruption, the need for quicker servicing is increasingly crucial. Recognizing this client need, we began by rethinking and then redesigning the client onboarding journey to introduce an optimal solution. Addressing clients' needs, we will continue to bring new capabilities to market as we continue to make progress on digitizing our core banking capabilities, end-to-end."

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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CitiDirect BE® Digital Onboarding
CitiDirect BE® Digital Onboarding features a simple intuitive interface that guides users through the onboarding process, including account opening and KYC requirements, and allows them to provide their documents digitally. The solution also provides clients with a digital dashboard, which allows them to track the progress of their account opening.

CitiDirect BE® and CitiConnect®
CitiDirect BE® and CitiConnect® are a part of Citi's Treasury and Trade Solutions' award winning digital banking product suite. CitiDirect BE® is Citi's institutional digital banking platform available online, as well as on mobile and tablet devices. CitiDirect BE® also offers biometrics, world class security and controls, as well as machine learning. CitiConnect® is Citi's industry leading suite of institutional connectivity options, including APIs, API Developer Portal and ERP Integrator options.

Citi's Treasury and Trade Solutions
Citi 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.

Media Contact
Harsha Jethnani, Asia Pacific Corporate Affairs
852 – 2868 7738

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