Citibank launches Digital Global Banking service in Thailand
Date: Dec 05, 2012
Categories: Retail Banking, Technology & Operations
Bangkok, November 27th 2012 – Citibank today launched Thailand's first Digital Global Banking service, which targets ‘global-minded customers,' such as expatriates, frequent travelers and scholars studying abroad. Citibank aims to attract more global clients with this robust and innovative value proposition to become Thailand's first global gateway for local customers.
Mrs. Vira-anong C.Phutrakul, Managing Director Retail Banking Head, Citibank N.A., explained: "In Asia, the need for international banking, travel and investment services has been rising rapidly amongst affluent and emerging affluent clients. They need a bank to deliver a simplified, fast and easy retail banking experience. From a consumer survey conducted among Citi clients, 54 percent of clients have made an overseas trip in the last year, while 65 percent want a bank that allows them access to branches or their money anywhere in the world. Of the respondents interviewed, 18 percent also had immediate family members working or studying overseas. Citi's strong international presence in 160 countries, including seven countries in the region – Thailand, Singapore, Malaysia, Vietnam, Philippines, Brunei and Indonesia – allows us to leverage Citi's capabilities to differentiate across markets and segments to better serve clients' needs."
Mrs. Vira-anong elaborated: "Citi's global banking services are tailored to global customers to help them manage their banking transactions regardless of location. For example, Citi clients can transfer funds seamlessly between Citibank accounts worldwide for free and instantly with the Citibank Global Fund Transfer service. The service is available in 30 countries, including the U.K., U.S., Japan, China, India, Singapore and Hong Kong. Having multiple accounts in more than one country, clients can also view their accounts via one single access point in real-time. This Global View of Accounts service makes it more convenient for Citi clients to monitor their portfolio."
Around the globe, Citi serves more than 1.4 million global-minded customers, of which approximately 600,000 are based in Asia Pacific. The number of clients in the region that subscribe to Citi's Global View of Account service continues to grow rapidly.
"Citi has eight foreign-currency deposit accounts available to serve our clients: USD, AUD, SGD, GBP, EUR, CHF, HKD and JPY. These major world currency offerings underscore Citi's global coverage," Mrs. Vira-anong emphasized.
Mr. Titiporn Thammapimookkul, eBusiness Head, Citibank N.A., highlighted Citibank's digital strategic direction, saying: "SoLoMo (Social Media, Location and Mobile) is now the upcoming trend as evident through mobile phone apps that combine social networking with location-based features. Citi introduced Citi Mobile, the bank's mobile banking platform for clients who need to bank on-the-go on top of Citibank Online. Since its launch in 2008, Citi Mobile continues to add between 60,000 to 70,000 new mobile users per month. Last month, Citi Mobile also reached the 1 million-user mark in Asia Pacific. In total, the bank sees between 12 million and 13 million online and mobile log-ins every month. The Citi Mobile application is now available on both the App Store and Play Store."
On the back of its digitization efforts, Citibank Thailand has been awarded Thailand's Best Internet Banking title for 10 consecutive years by Global Finance. Across seven markets in Asia Pacific, Citi was also awarded the Best Consumer Internet Bank title from Global Financethis year.
Citibank's digital banking experience forms an integral part of the client experience from communications such as e-Statements, Electronic Direct Mail, SMS and online registration to actual banking transactions. Our digital banking proposition is designed to match our clients' lifestyles and by 2013, Citi's three digital channels – PC, tablet and mobile – will be seamlessly aligned.
Re-disseminated by The Asian Banker