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Citigroup Expands Asia Digital in Bid to Reach Affluent Clients

  • Bank aims to increase affluent customer base by 10% this year
  • Head of APAC retail banking Luchetti comments in interview

Citigroup Inc. is expanding its digital-banking channels in Asia as the bank seeks to boost its base of affluent customers in the region by at least 10 percent this year.

The New York-based firm is accelerating the deployment of technologies that allow customers to get advice from wealth managers and make transactions through its Internet and mobile platforms, according to Gonzalo Luchetti, Citigroup’s Singapore-based head of Asia-Pacific retail banking. The retail division currently has about 400,000 affluent clients in Asia, with assets ranging from $100,000 to $10 million.