Citi’s Web-banking Platform Ranked #1 Online Corporate and Commercial Banking Platform By Greenwich Associates
NEW YORK, NY - Oct. 20 – Citi today announced that its institutional web-banking platform has been ranked first in Greenwich Associates’ Online Services Benchmarking study. For the third consecutive year, Citi was ranked first in the Global category, U.S. Middle Market category (companies with $10 million to $500 million in annual sales), and shared the top spot in the U.S. Large Corporate category. Citi’s platform incorporates industry-leading capabilities such as transaction initiation and reporting, treasury and liquidity analytics, as well as trade services.
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. Citi’s platform was highly ranked in the areas of usability, global availability of the platform, payments/receivables, information reporting, active investments and trade services.
Citi’s Global Transaction Services 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 more than 140 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the 3rd quarter of 08, it held $273 billion in liability balances under administration and $11.9 trillion in assets under custody and trust.
"We are committed to providing our clients with the best platforms and capabilities in the industry to gain greater efficiency, flexibility and control over their banking transactions," said Francesco Vanni d’Archirafi, Global Head of Treasury and Trade Solutions with Citi’s Global Transaction Services. "These independent rankings further validate Citi’s commitment to excellence to develop the best solutions possible for both our corporate and financial institution clients."
"Corporate and commercial clients have increasingly high expectations for the Internet and electronic platforms provided by banks," says Greenwich consultant Marc Harrison. "Platforms such as Citi’s are raising the bar in terms of ease of use and providing a consolidated view of the cash and liquidity positions of the bank’s clients."
About Greenwich Associates
Greenwich Associates is the leading international research-based consulting firm in institutional financial services. Greenwich's studies provide benefits to the buyers and sellers of financial services in the form of benchmark information on best practices and market intelligence on overall trends. Based in Greenwich, Connecticut, with additional offices in London, Toronto, and Tokyo, the firm offers over 100 research-based consulting programs to more than 250 global financial-services companies.
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. Citi’s major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.