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Citi launches new digital commercial banking platform | Fintech InShorts: Latest fintech news, analysis by experts

Citi launches new digital commercial banking platform

Citi Commercial Bank (CCB) has launched a new digital commercial banking platform called CitiDirect Commercial Banking, which offers a consolidated view of global products and services to clients.

Facts

  • Citi has launched a new digital commercial banking platform, CitiDirect Commercial Banking, to cater to the needs of its clients.
  • The platform integrates all of Citi’s global products and services, providing clients with a consolidated view across cash, loans, trade, foreign exchange (FX), servicing, and onboarding relationships.
  • The new platform has been developed in collaboration with CCB clients, resulting in an intuitive and seamless digital experience.
  • Key features of the platform include access to data-driven insights for decision-making, centralized management of day-to-day banking interactions, digital account opening, and the ability to request new products and services.
  • Mark Sugden, head of CitiDirect Commercial Banking and digital transformation, emphasizes that the platform is designed with a client-centric focus, delivering an innovative solution that meets complex needs and provides a simple and intuitive digital banking experience.
  • The platform is currently live in the United States, with approximately two-thirds of Citi’s US clients already utilizing it. CCB plans to pilot the platform in Hong Kong, Singapore, India, and the UK during the second half of 2023.

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