Citi Commercial Bank digitises account opening for new clients

Through its new Commercial Bank Gateway Portal, CCB has opened over 750 accounts digitally for new clients in these markets, it said.

The lender said the launch of Gateway complements the bank’s CitiDirect BE Digital Onboarding solution, which supports digital account opening for existing clients and is available to CCB clients across 10 markets in the region. Through Gateway and CitiDirect BE Digital Onboarding, it said, close to 70% of CCB’s total account opening volumes in Asia Pacific are now achieved through digital channels and accounts can be opened digitally in as quickly as three days.

According to a statement, the web-based Gateway portal replaces paper-based documentation, eliminates the need for repetitive data entry and enables new clients to digitally complete their Know Your Customer (KYC) requirements. It said that clients will be able to initiate loan requests and complete credit inquiry forms through the portal which will also push real-time status updates throughout the loan fulfilment process.

“Citi Commercial Bank continues to invest in digital solutions and capabilities to elevate the entire client experience, covering onboarding and implementation, to maintenance and services. With Gateway, we have transformed the account opening process for new clients so that it is user-friendly and efficient,” said Rajat Madhok, Asia Pacific head of Citi Commercial Bank.

“Digitisation is high on the agenda for emerging corporates particularly on the back of the ongoing pandemic as they look to operate with greater agility and speed. Through Commercial Bank Gateway and multiple digital initiatives, we are able to support our clients’ operational needs as they adapt their businesses to new and digital ways of operating,” said Madhok.

Citi Commercial Bank Asia Pacific operates in 11 markets in Asia Pacific and contributes around a third of the bank’s global commercial banking revenues.