CitiDirect BESM Ranked #1 in Greenwich Associates Online Services Benchmarking Study
New York, NY – CitiDirect Banking Evolution (BESM), Citi’s institutional e-banking platform, has again been ranked number one in Greenwich Associates’ Online Services Benchmarking study. This is the fifth consecutive year that Citi has received this distinction in the study, which gauges “Best of Breed” features/functionality in the online/electronic channel that differentiate treasury/cash management providers globally as well as in Europe, Asia and North America.
CitiDirect BE, the evolution of the award-winning CitiDirect® Online Banking platform (CitiDirect®), represents a multi-year investment and delivers a new client experience with a contemporary design, enhanced navigation and optimized user interface.
In addition to being ranked the #1 Global/International Provider, Citi was rated “Best of Breed” in the following categories:
- Overall Product/Service Availability
- User Authentication
- Connectivity and File Services
- Cross-Product Integration
- Payments (ACH, Wire Transfer)
- Cash Position/Liquidity Management/Forecasting
- Active Investments
- Trade Services
- Supply Chain Finance
Conducted by Greenwich Associates, an independent research and consulting firm, the annual Online Services Benchmarking study evaluates online banking applications provided by leading banks and non-banks. Greenwich Associates analyzed each provider’s platform and ranked them based on more than 40 individual performance factors including usability/ease of use, product features, country/regional management, integration/organization, payments, receivables, information access/reporting, and other corporate services. Criteria were then weighted for scoring purposes.
“We are extremely pleased to be recognized by Greenwich Associates. This ranking is an endorsement of our strategy to deliver a new e-channel client experience” said Naveed Sultan, Global Head of the Treasury and Trade Solutions Group at Citi. “Citi is committed to the necessary investment and use of technology to continue to provide clients with digitized solutions that meet their changing needs.”
“Alongside global capabilities, online capabilities are fast becoming one of the most important differentiators among the banks competing for corporate business,” says Greenwich Associates consultant Marc Harrison. “Corporate clients are looking for banks to move beyond providing transactional services to more complex decision-support tools, and next-generation platforms such as CitiDirect BE are addressing this need.”
Citi’s Treasury and Trade Solutions Group, provides integrated cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Citi Digital Working Capital, with its full range of digital and mobile enabled platforms, tools and analytics continues to lead the way in delivering innovative and tailored solutions to its clients. It offers the industry’s most comprehensive suite of treasury and trade solutions including cash management, payments, receivables, liquidity management and investment services, working capital solutions, commercial and prepaid card programs, trade finance and services. As of the first quarter of 2013, average deposits and other customer liability balances were $415 billion.
About Greenwich Associates
Greenwich Associates provides data and insights to help our Clients make smarter business decisions and give them a significant competitive advantage. As their authoritative data source, as well as their resource for deep market research and research-based consulting, we empower our Clients to improve customer experience, enhance operational performance and optimize development initiatives, which ultimately drive financial performance. Greenwich Associates has over 40 years of experience and is based in Stamford, CT, with additional offices in Pleasanton, CA, London, Toronto, Tokyo, and Singapore. Please contact us for further information or to arrange an interview with one of our consultants. You can visit our website, www.greenwich.com, for more information.
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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