Citi Launches Mobile Innovations: CitiDirect BE Payment Advisor and Payments
Products provide enhanced information, transparency, and immediacy
DUBAI, United Arab Emirates -- September 17, 2013
Citi has launched two new efficiency applications for financial institutions
that are available on mobile devices – CitiDirect BE Payment Advisor and
Payments Directory Mobile.
CitiDirect BE Mobile Payment Advisor is a mobile-enabled application that
allows banks, their customers, or third parties to track the status of a
payment at any time and from any mobile device, similar to tracking the status
of a package.
“We know from our own operations and the feedback from our financial
institution clients that real-time access to payment status is critical to
customer satisfaction. We developed a solution that helps any party involved
in the payment chain with the information required at a moment’s notice,” said
Sam Itzcovitz, Head of Clearing and Financial Institutions Payments at Citi.
The majority of phone calls to a given service center are simple payment
status inquiries. These calls can take several minutes to complete and involve
multiple parties, while an on-line check takes only seconds to return an
up-to-the-minute status. Citi Payment Advisor allows users to search for
transaction updates online from any mobile device or any computer with an
Internet connection. The application requires no installation or user
credentials, yet provides security in that fully complete and unique
information as to sender reference, amount, currency and value date are
required to return a result.
Payments Directory Mobile is a mobile-enabled application allows banks to
explore a database of institutions worldwide that participate in U.S. dollar
clearing. “Finding the best avenue for sending a payment shouldn’t be a
hassle. We have responded to requests from our clients to make it easy to
navigate through the cumbersome process of choosing from one of thousands of
correspondent banks to route a payment,” says Itzcovitz.
Citi’s Payment Directory brings a simple approach, allowing banks to quickly
search for clearing intermediaries with filtering preferences, creating a
straightforward display. The application requires no installation and is
accessible from any mobile device – phone or tablet.
“At Citi, we are ‘mobilizing’ our online banking applications in an
incremental, measured approach as part of an overall digital strategy. With an
estimated 6.1 billion mobile phone subscriptions worldwide, and virtually
every business executive tethered to his or her favorite mobile device, it is
clear that corporate applications represent the next frontier for these
ubiquitous personal communications tools,” comments JP Jolly, Head of Channel
Services at Citi.
Citi Treasury and Trade Solutions'Financial Institutions Paymentsoffering
delivers more than $2 trillionin payments daily into 180 countries, across
130 currencies, on behalf of our clients. This comprehensive solution
setprovides a globally consistent payments experience for our clients
wherever they do business.
Citi provides the tools, experience and insights that helpclients optimize
their flows and navigate the risks associated with an increasingly complex yet
interconnected international payments landscape. In recognition or its
activity, Citi has been awarded the “Distinguished Provider of Transaction
Banking Services” designation by FImetrix, LLC, a leading market research firm
for Financial Institutions on the basis of an industry-wide analysis of
About Citi Treasury and Trade Solutions
Citi Treasury and Trade Solutions (TTS) enables our 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.
Additional information may be found at http://www.citigroup.com | Twitter:
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+44 (0) 207 500 8304
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