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Citibank Philippines was awarded The Best Frictionless Mobile Initiative, Application or Programme for 2018 at The Asian Banker Philippines Country Awards 2018

5 min read

By The Asian Banker

  • Citibank’s mobile application offers innovative features to address customer needs
  • The bank’s mobile application offers a seamless customer experience, particularly by leveraging technology, to allow for ease of use
  • The bank saw a positive reception for its mobile application, with increased downloads and mobile channel usage

Mr. Foo Boon Ping ( Managing Editor of The Asian Banker ), Manoj Varma ( Consumer Banking Head and Country Business Manager of Citibank), Mr. Rene Aguirre (Head of Retail Banking at Citibank), Mr. David Gyori ( CEO of Banking Reports) and Mr. Richard Hartung ( Managing Director of Transcarta)

Manila, October 5th 2018 —Citibank Philippines received The Best Frictionless Mobile Initiative, Application or Programme awardfor the Philippines at The Asian Banker Philippines Country Awards 2018. The awards ceremony was held in conjunction with the prestigious The Future of Finance Philippines 2018, the annual gathering for decision makers in the financial services industry in the country, held at the Fairmont Makati, Manila on October 5th, 2018.

 

Citibank’s mobile application offers innovative features to address customer needs

 

The bank offers innovative features on its mobile banking application to better address customer needs. The “Quick Cash - Click for Cash” feature allows qualified cardholders to instantly encash a portion of their credit card’s credit limit without the need for the submission of documents. The “Equal Payment Plan” allows customers to convert an eligible credit card purchase into an easy repayment plan through the mobile application.

The bank’s mobile application offers a seamless customer experience, particularly by leveraging technology, to allow for ease of use

 

Citibank offers Citiphone, the first of its kind in the Philippines, to authenticate customers through their unique voiceprint, eliminating the need for verification questions, boosting the response time by 60%, and enhancing fraud detection. In addition, customers are able to log into the application with ease with their face or fingerprint, and are able to withdraw cash from a Citibank ATM without a card, as well as block or unblock their credit cards. Furthermore, the bank offers a direct connection to the Credit Bureau to hasten credit card applications. The bank also intends to launch a natural language chatbot on Facebook Messenger to attend to customers. 

The bank saw a positive reception for its mobile application, with increased downloads and mobile channel usage

The bank saw a 100% year-on-year growth in downloads of the Citi Mobile App, with mobile use among customers increasing by 66% over 12 months, making it the fastest growing digital channel. As such, the number of customers who utilise digital channels actively has increased by 40% in the past 12 months. Furthermore, the mobile application enhances the performance of existing lending products. This is evidenced by the fact that 69% of total card instalment loans and 52% of Equal Payment Plans were booked digitally, growing 77% and 57% respectively.

 

About The Asian Banker

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com

 

For all Business Achievement Awards 2018 photos, please visit

https://www.facebook.com/pg/TheAsianBanker/photos/?tab=album&album_id=10156587646114804

 

For further information on the collaterals for winning banks, please contact:

Mr. Foo Boon Ping

Managing Editor

Tel: (+65) 6236 6526

bpfoo@theasianbanker.com

www.theasianbanker.com

 

 



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