Citi’s Mobile Enablement Strategy Achieves Milestone: CitiDirect BESM Mobile Exceeds $10 Billion in Total Transaction Value Processed.
Athens, October 15, 2012.
The CitiDirect BESM Mobile service is a milestone in Citi’s strategic plan to provide mobile enablement of its key client platforms. The CitiDirect BESM Mobile service developed by the Citi Transaction Services unit, has surpassed over $10 billion in total transaction value, across 86 countries, since its launch one year ago. CitiDirect BESM Mobile is one of the most global mobile banking solutions and is used by 400,000 users representing over 60,000 clients, while being available in 12 languages worldwide, and soon will be available in Greek.
Developed by the Citi Innovation Lab Dublin in conjunction with the CitiDirect technology team, CitiDirect Banking Evolution (BE) Mobile allows clients to access core transaction functionality available with CitiDirect Online Banking using their mobile phones and tablets, including:
- Receive alerts and create, authorize, release and delete batch payments for end-to-end processing
- Check account balances and transaction status providing for added convenience
- Authorize imported file transactions
- Optimize usability of their mobile phones with an enhanced user interface design
Since commercializing the application, CitiDirect BE Mobile has been recognized by the industry as an innovative solution for clients and has received the Overall Most Innovative 2012 Monarch Innovation Award presented by Barlow Research Associates, Inc. and the Innovation in Cash & Treasury Technology Award presented by The Banker Magazine.
According to Spyros Gillis, Head of Citi Transaction Services in Greece, “CitiDirect BESM Mobile is one more move towards Citi’s stated commitment to develop a full digitally enabled tool set for its clients worldwide. Investing in and co-developing with innovation labs and technology teams, Citi aims at becoming the world’s digital bank.”
“We are extremely pleased that clients have endorsed CitiDirect BE Mobile in such a short amount of time. At such performance levels as this, we have more than reached our goals. From CitiDirect BE Mobile, we have learned that when you provide clients with innovative solutions that meet their changing needs, accelerated client adoption and commercialization are very achievable,” said Naveed Sultan, Global Head of Treasury and Trade Solutions, at Citi.
Citi Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 95 countries, Citi’s Transaction Services supports over 65,000 clients. As of the second quarter of 2012, it held on average $396 billion in liability balances and over $12 trillion in assets under custody.