Citi launches digital onboarding for institutional clients through CitiDirect BE®
New York, NY & London, UK: Citi’s Treasury and Trade Solutions (TTS) has launched CitiDirect BE® Digital Onboarding.
The new digital account opening experience for institutional clients is now available in North America and across six countries in Western Europe. The solution will be rolled out across the rest of EMEA, Asia Pacific and Latin America in the coming quarters.
The new solution provides Citi’s clients with an accelerated onboarding experience, replacing the legacy paper and courier based documentation process with a digital platform, including the use of electronic signatures, as well as leveraging existing data assets to complete Know Your Customer (KYC) and account opening requirements.
Through the new solution, clients will be able to complete their account openings within two days. In addition to saving time, clients will not have to interact with as many touchpoints and will be able to manage their account opening processes with greater flexibility, and increased information. CitiDirect BE® Digital Onboarding comes off the back of a global documentation rationalization program, reducing over 70% of service agreements and forms.
“Across Citi’s Treasury and Trade Solutions we are digitizing our core banking capabilities, processes and platforms, from front to back, to improve the way clients interact with us and use our products and services,” said Naveed Sultan, Global Head of Citi’s Treasury and Trade Solutions. “CitiDirect BE® Digital Onboarding is an extension of these initiatives – of digitizing the client experience end-to-end.”
Naveed Sultan added: “Citi continues to use the latest technologies such as artificial intelligence and machine learning to develop solutions that help our clients achieve their global operational efficiency, control and working capital goals. TTS continues its pursuit of delivering the best possible experience by collaborating with clients to launch leading-edge solutions.”