Citi Achieves Milestone in Digital Strategy through Expansion of Global Electronic Bank Account Management Solution to 55 Countries
London, Barcelona – Citi's Treasury and Trade Solutions has expanded its Electronic Bank Account Management (eBAM) service footprint to 55 countries, reinforcing Citi's commitment to digitizing its capabilities and becoming the world's leading digital bank. Citi eBAM is currently available across North America, Europe, Middle-East, Africa and the Asia Pacific regions. This expanded global footprint delivers increased risk management benefits to corporate treasurers and further establishes Citi as a pioneer in the eBAM marketplace.
Citi eBAM provides clients with the flexibility to manage their accounts around the world electronically. Since launching eBAM in 2009, Citi has focused on the importance of digital innovation and technology by continuously enhancing and expanding the service - which is available via CitiDirect BESM, Citi's electronic banking platform - to bring new capabilities and features to its clients.
"We are committed to providing a market-leading eBAM solution for our clients, and this is evidenced by our expanding country footprint, evolving product capabilities and commitment to offering digital services. eBAM helps our clients meet their account management needs around the world, enabling them to bring efficiency and convenience to these processes. This expansion adds to the uniqueness and global appeal of the product," says Rajesh Mehta, Regional Head of Treasury and Trade Solutions, Europe, Middle East and Africa.
The Citi eBAM solution provides efficiency to clients by allowing them to electronically create and track requests for maintenance, account openings and signatory management of their Citi accounts. By making this information available digitally, eBAM reduces the amount of paper documentation and duplication of communications required to implement changes in addition to increasing efficiency, driving productivity and reducing operational risk. By connecting clients directly to Citi's backend processes, eBAM enables self-service of the account administration process and drives productivity, bringing value and ease of use to clients. Clients can get complete visibility and information on their accounts and signatories at any time. In today's environment of increased regulatory compliance, eBAM enhances the control environment for clients.
"The expansion of eBAM's network to 55 countries is a significant step for Citi. We have an unparalleled global network and are excited to continue evolving eBAM to deliver against the treasury needs of our clients," added Rajesh Mehta. "This solution is convenient and easy-to-use for our clients, distinguishing it in the marketplace. eBAM is essential to our digital bank strategy."
Citi strives to be at the forefront of the industry as a leader in technology innovation. To continue meeting the needs of its clients, Citi plans to further enhance and innovate the Citi eBAM solution in line with its goal to be the world's leading digital bank.
About Citi Treasury and Trade Solutions
Citi Treasury and Trade Solutions (TTS) enables clients' success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the industry's largest proprietary network with banking licenses in over 100 countries and globally integrated technology platforms, TTS continues to lead the way in offering the industry's most comprehensive range of digitally enabled treasury, trade and liquidity management solutions.
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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