Citi Expands Global Electronic Bank Account Management Solution to 33 Countries
New York, London - September 26, 2012 – Citi has expanded its Electronic Bank Account Management (eBAM) to 33 countries with new enhancements to its solution on CitiDirect BE, Citi’s new electronic banking portal.
Citi, an industry leader in eBAM, has had an electronic portal for bank account management since 2009. Using eBAM, clients can electronically create and submit requests for opening, maintenance, and signatory management of Citi accounts. eBAM enables self-service of the account administration process by providing online forms and documentary requirements, electronic tracking of requests, and instantaneous reporting of legal entity and bank account information. Citi’s advanced solution utilizes digital signatures and Workflows to streamline the process while managing internal compliance and bank relationship policies for its clients. This reduces time and uncertainty in the management of accounts.
By integrating electronic tracking of paper requests to the existing capability, Citi is enabling faster country adoption of eBAM. eBAM integrates and shares common services with the portal to provide clients with a seamless experience for account administration and transactional requests.
“As our clients continue to digitize their business processes, Citi remains focused on the importance of innovation and technology to provide market-leading solutions that reflect the changing marketplace. We are committed to evolving our eBAM offerings to increase efficiency in bank account management for our clients and improve the client experience,” said Naveed Sultan, Global Head of Treasury and Trade Solutions at Citi.
Citi offers a comprehensive eBAM product designed to drive business productivity, decrease operational risk, and increase efficiency in traditionally paper-intensive processes.
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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About Citi Transaction Services
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.