Citi's Web-banking Platform Ranked #1 Online Corporate and Commercial Banking Platform By Greenwich Associates
New York, Boston – AFP: Citi Markets & Banking announces that its platform of online banking solutions have ranked first in Greenwich Associates' Online Services Benchmarking study. For the second consecutive year, Citi was rated first in the Global and Large Corporate categories. Citi also shares the top spot in the Middle Market category (companies with $10 million to $500 million in annual sales). Citi's platform incorporates industry-leading capabilities such as transaction initiation and reporting via CitiDirect Online Banking, and treasury and liquidity analytics via the TreasuryVision offering.
Conducted by Greenwich Associates, an independent research and consulting firm, the annual study evaluates online banking applications provided by leading banks. Consultants spent more than 20 hours analyzing each provider's platform and ranked them based on more than 40 individual performance criteria including usability/ease of use, product features/functionality, integration/organization and information access. Criteria were then weighted for scoring purposes. The Citi platform was highly ranked in the areas of customization, alerting capabilities, communications and integration with corporate and non-treasury services.
“This ranking underscores Citi's commitment to constantly evolving our services to meet the unique needs of our clients,” says Francesco Vanni d'Archirafi, Global Head of Cash Management, at Citi's Global Transaction Services unit. “This win is particularly meaningful for Citi with the survey being conducted by a leading independent consultancy.”
Global Transaction Services, a division of Citi Markets & Banking, 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 spanning over 100 countries, Citi's Global Transaction Services supports over 65,000 clients. As of the 3rd quarter of 07, it held $255 billion in liability balances under administration and $12.5 trillion in assets under custody and trust.
“Web-based corporate and commercial banking platforms are far more focused on the workflow of the typical treasury/cash management user than was the case even a few years ago,” said Greenwich consultant Marc Harrison. “One of the key strengths of CitiDirect is its ability to be customized at the user level.”
“We continue to innovate and invest in our online platforms, with particular focus on providing clients with actionable analytics, information and tools,” say Gary Greenwald, Global Head of Capabilities and Information Products at Citi. “We are particularly pleased that we are now able to offer these platforms both to our own corporate clients as well as on a private label basis to our partner banks for the benefit of their corporate clients.”
Citi Markets & Banking is the most complete financial partner to corporations, financial institutions, institutional investors and governments in the world. As a global leader in banking, capital markets, and transaction services, with a presence in many countries dating back more than 100 years, Citi enables clients to achieve their strategic financial objectives by providing them with cutting-edge ideas, best-in-class products and solutions, and unparalleled access to capital and liquidity.
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing 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, and wealth management. Major brand names under the trademark red arc include: Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.