Citi Philippines achieves double win at The Asian Banker Philippines Country Awards 2018

Citi Philippines consumer banking head Manoj Varma (2nd from left) and retail bank head Rene Aguirre (middle) receives the award from The Asian Banker managing editor Foo Boon Ping (leftmost), CEO of Banking Reports David Gyori (2nd from right) and Transcarta managing director Richard Hartung (rightmost) 

Citi Philippines’ innovation in digital consumer banking was recognized by The Asian Banker Philippines Country Awards 2018 as Best Frictionless Mobile Initiative, Application or Programme. The country’s largest foreign bank also received an award for Best Wealth Management Bank.

The Asian Banker noted the numerous innovative features of Citi’s mobile banking application to better address customer needs. The “Click for Cash” feature allows qualified cardholders to instantly encash a portion of their credit card’s credit limit without the need for the submission of documents. In addition, customers are able to log into the application with ease with their face or fingerprint, and are able to withdraw cash from a Citibank ATM without a card, as well as lock or unlock their credit cards anytime.

The Asian Banker recognized the strong results of the Citi Mobile App with a 100% year-on-year growth in downloads of the app, with mobile use among customers increasing by 60% over 12 months.

In the field of wealth management, Citi’s Citigold end-to-end premium banking and wealth management solutions were recognized with the Best Wealth Management Bank award for the 3rd year.

Citi was recognized for its business growth as evidenced by its 50% year-on-year growth on acquisition and a 14% growth on retail investment holdings despite volatile markets. Citi also nearly doubled the share of digitally acquired customers.

The offering of new Wealth Proposition products and the high satisfaction rating earned by Citi’s relationship managers among clients also contributed to its strong performance.

“We thank our clients, whose continued support and increased patronage is a true testament of the incredible gains we have achieved in digital banking. We will continue to push the boundaries of financial technology to ensure that we provide the best service to our customers,” said Citi Philippines Consumer Bank head Manoj Varma.