Citi was named Best Corporate/Institutional Digital Bank in Asia Pacific by Global Finance magazine in the publication's 2019 World's Best Digital Bank Awards. Announced at the Digital Banks and Innovators Awards Dinner held October 29 in New York, Citi was also recognized as World's Best Digital Bank and World's Best Corporate/Institutional Bank.
Citi's latest Asia Pacific win follows from the announcement of the awards' first round of results in September, which covered winners in individual countries and regional sub-categories.
As part of the initial round of results, Citi swept the Best Corporate/Institutional Digital Bank title across all 17 Asia Pacific markets covered by the awards program. These included Australia, Bangladesh, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Pakistan, Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand and Vietnam.
Citi also won six regional sub-category Corporate/Institutional Digital Bank awards including Best Online Cash Management, Best Trade Finance Services, Best Online Treasury Services, Best in Mobile Banking, Best Mobile Banking App, and Best Open Banking APIs.
Citi Asia Pacific Head of Treasury and Trade Solutions Rajesh Mehta said: "Citi's Treasury and Trade Solutions in Asia has been growing at double-digit rates over the last three years, underpinned by the progress we are making through digitization and innovation. We continue to invest in technology and strategic fintech partnerships to offer capabilities and the financial ecosystem that our clients need to be able to compete effectively. We are proud to be recognized as the Best Corporate/Institutional Digital Bank in Asia Pacific and we remain committed to partnering with our clients as they evolve their business models for the digital economy."
Citing Global Finance magazine's announcement of the wins, the publication said, "Winners were selected based on strength of strategy for attracting and servicing online customers, success in getting clients to use digital offerings, growth of online customer base, breadth of products offered, evidence of tangible benefits from digital initiatives, and website design and functionality." The judging panel comprised representatives from Infosys whose evaluations were used by Global Finance editors to make the final selections.
Citi's Treasury and Trade Solutions business was the first to launch Digital Onboarding across multiple markets in Asia Pacific, enabling clients to open accounts in as quickly as two days using a completely digitized onboarding process. In September this year, the business announced that its API connectivity platform, CitiConnect ® had processed over 157 million API calls since its launch in November 2016, enabling clients to more seamlessly access a growing number of Citi solutions. Asia Pacific and Europe accounted for a majority of these API calls.
Citi was also named Best Bank for Transaction Services in Asia by Euromoney magazine earlier this year in the publication's annual Awards for Excellence.
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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Harsha Jethnani, email@example.com, +852- 2868-7738