NEW YORK – Citi was named Best Digital Bank 2023 by Global Finance Magazine. This marks 22 consecutive years of recognition as a global banking leader by the publication. Global Finance also named Citi Best Corporate/Institutional Digital Bank Globally, as well as best in several regional categories.
“With artificial intelligence and machine learning rapidly advancing, the standards for the best digital offerings are constantly evolving,” said Joseph Giarraputo, founder and editorial director of Global Finance. “Global Finance’s Best Digital Bank awards honor those financial institutions blazing the digitalization way.”
“Citi is honored to be recognized by Global Finance Magazine as the World’s Best Digital Bank for 2023, said Shahmir Khaliq, Citi’s Head of Services. “We are using technology to transform our treasury operations and meet the evolving digital needs of business in this complex global landscape. Our highly client-centric approach has allowed us to be laser-focused on delivering digital solutions and services that enable our clients to take full advantage of global growth opportunities today and well into the future.”
Citi’s digital solutions continue to help institutional clients address their treasury needs as seen by their YOY growth:
CitiDirect® – Citi’s next-generation banking platform that provides one-click access to global transaction capabilities has experienced another year of high growth across its suite of digital solutions with 15% YoY growth in cumulative active users and 4% YoY growth in the total number of clients. Mobile monthly active users also increased by 62% compared to 2022.
CitiConnect API* – Citi’s real-time connectivity platform, launched in 2017, has processed three billion API calls in 2023, YTD, which is double the volume processed in 2022, showing a tremendous growth rate of 150% YOY. This has been driven by the rapid adoption of APIs by corporate and FI clients and an improved client experience, with clients now able to test APIs in Citi’s sandbox in less than 24 hours.
“As institutions rapidly integrate next-gen digital solutions, they are able to generate a tremendous volume of internal data that their treasury teams can use to make smarter business decisions,” said Naveed Anwar, Global Head of Digital and Data, with Citi’s Treasury and Trade Solutions.
“At Citi, we work with our clients, leveraging new technology to ensure their data can be mined for key insights to inform critical treasury decisions, such as optimizing liquidity and improving funding and investing activities. This award recognizes our investments in cutting-edge digital technology and our commitment to delivering the best client experience and the highest quality service in the industry.”
