Citi Adds 70,000 New Mobile Banking Users Every Month in Asia Pacific

Citi Adds 70,000 New Mobile Banking Users Every Month in Asia Pacific

Digital banking driving growth in Citi’s consumer banking

In the Asia Pacific region, Citi Mobile is able to attract 60,000 to 70,000 new mobile banking users every month. The bank has also breached the 1 million users mark with roughly 1.1 million users using mobile to conduct their banking transactions.

Digital banking driving growth in Citi’s consumer bankingThe bank is eyeing about 12 to 13 million log-ins to their online and mobile banking platforms per month.

Citibank, the consumer banking arm of Citi, is the first financial establishment to put up a mobile banking app in the Asia Pacific region. Initially launched in Hong Kong in 2008 the app has been made available to 12 regional markets.

Citi’s mobile banking app is available on the iPhone, Android, and Blackberry platforms including mobile browsers.

Current data suggests that about 95% of all transactions for Citi in Asia are made outside the branches.

In 2010, Smart Banking branches, which utilises technology for services was launched in Asia and then adapted around the world. These innovative branches are able to serve customers three to five times faster compared to traditional ones.

Citi is also looking to invest in improving their mobile banking capabilities in the next year. One of the new developments is targeted on tablet banking in Australia, Singapore, Thailand, Philippines, China, Malaysia and Indonesia.

Key Stats

  • Citi is adding 60,000 to 70,000 new mobile banking users every month
  • Citi has 1.1 million active mobile banking users in the Asia Pacific region
  • The bank is looking at 12 to 13 million online and mobile log-ins every month
  • In APAC, about 95% of Citi transactions are made outside of branches

Rajesh Yohannan, Global Head of Mobile Banking and Asia-Pacific Head of Ebusiness  and Direct Banking: “We are working to make Citi Mobile more than a tool for bills payments, transfers, locating ATMs and merchants and rewards redemptions. With our new capabilities, we are certain that the share of new business through mobile will grow exponentially.”

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Covered by my Visible Banking Team

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