Citi introduces online Banking Evolution

image Citi announced the introduction of CitiDirect® BE, its next generation collaborative online banking platform for institutions. With the new solution clients from small businesses to large multinational companies will have more control and visibility of end-to-end banking processes.

Building on the award-winning CitiDirect® Online Banking platform first introduced in 1999, CitiDirect BE, in which "BE" represents "Banking Evolution", will provide a new diverse set of functionality beyond traditional transaction management and reporting. It will include capabilities for sophisticated analytics and user-generated content, a media/video channel as well as Citi’s innovative Electronic Bank Account Management offering. In addition to these new features, CitiDirect BE makes these tools available via multiple delivery channels corporate clients require, including a web portal, a la carte web services, straight-through connectivity via SWIFT or the Internet, as well as mobile devices.

“Citi has always been at the forefront of technology innovation particularly in online banking,“ said Francesco Vanni d’Archirafi, CEO of Citi’s Global Transaction Services business. “CitiDirect BE was designed in partnership with our best clients and best-in-class technology providers, including Microsoft, and represents a radical departure from traditional electronic banking. We have focused on expanding the array of information, analytics and collaboration tools that enable our clients to improve their treasury processes and interact with us with much greater ease, and for our solutions to easily plug and play within our clients’ infrastructure.”

Jacob Jegher, Senior Analyst, Celent said: "Given how quickly the Internet and customer expectations are morphing, Celent believes that a dramatic shift will take place at most banks over the next three years. Banks are recognizing the requirement to change and will completely alter their corporate online banking experiences."


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