Citi named Asia’s best digital bank by Asset Magazine

Citi’s Asia Pacific Consumer Bank ended the fourth quarter of 2017 sustaining growth and profitability with the sixth consecutive quarter of revenue growth. For the full year 2017, Asia Pacific GCB’s revenues were up 7% at US$7.3 billion and net income up 16%, according to the bank’s recent press release.

Citi has been recognised as Asia’s Best Digital Bank by the Asset Magazine for the bank’s digital progress (Source: ven.vn)

During 2017, Citi invested further in supporting its digital transformation in Vietnam. The bank pushed forward with a number of digital services aimed at improving the digital experiences for Vietnamese retail clients. The rapid adoption of mobile and other digital channels has transformed how and where Citi’s retail clients bank, sign up for cards or loans, pay their bills. 

In Vietnam, 97% of customers have opted for e-Statements. In 2017, Vietnam has also recorded an 78% year on year growth in downloads of the Citi Mobile ® App and Citi’s customers show strong engagement, with those who actively use the app increasing by 87% year on year. For digital acquisition, the 2017 digitally acquired cards has grown 29% year on year. This growth has been underpinned by Citi’s digital investments and growth in partnerships on leading digital ecosystems. 

In the editorial write up, the Asset said, “Citi continued to enhance its digital offering by developing intuitive tools to serve their customers across its footprint, and saw a significant number of digital onboarding acquisitions with many clients using its various digital channels.”