We blogged recently about online banking figures in the United States, and this week Citibank India made some impressive announcements about its online offering.
In August we told you that the provider – which by balance sheet totals is the second largest MNC lender in the country – claims 40% of its customers regularly use Citibank Online.
The figure is significant, not only due to the fact that it says a lot about Citi India’s service, but because might also indicate how Indian consumers are adapting to the online banking channel as a whole.
While Citi India prefers not to put an exact figure on its customer base, estimates judge it at approximately 2 million.
This week the bank said that 60% of its members have opted for e-statements, and more than 50% of engagements are digital.
It even claims that the online option serves more usage customers than ATMs, branches and phone banking combined.
With this major financial provider reporting that the majority of its customer activities have moved into the virtual space, it’s worth investigating what’s behind it.
The bank’s platform lets customers conduct more than 110 transactions entirely online. This is provided alongside investment research, and information on concerns like wealth management.
The provider has also leveraged social media quite well, with the Citi India Facebook page going strong.
It makes an effort to involve followers – one recent example being the ‘Crowd Sourced ATM’ effort, in which participants could vote on upcoming Citibank ATM locations.
Looking outside India, Citibank has just launched a new and improved online banking portal for its North American customers. With an updated look and feel this site is designed to make things simpler and more flexible.
The original platform came with overly technical information on products and services. The new approach aims to speak the customer language, or at least appear approachable.
As consumers both here and overseas make online banking an everyday resource, it looks like the channel will increasingly deserve this kind of attention.
Source
In August we told you that the provider – which by balance sheet totals is the second largest MNC lender in the country – claims 40% of its customers regularly use Citibank Online.
The figure is significant, not only due to the fact that it says a lot about Citi India’s service, but because might also indicate how Indian consumers are adapting to the online banking channel as a whole.
While Citi India prefers not to put an exact figure on its customer base, estimates judge it at approximately 2 million.
This week the bank said that 60% of its members have opted for e-statements, and more than 50% of engagements are digital.
It even claims that the online option serves more usage customers than ATMs, branches and phone banking combined.
With this major financial provider reporting that the majority of its customer activities have moved into the virtual space, it’s worth investigating what’s behind it.
The bank’s platform lets customers conduct more than 110 transactions entirely online. This is provided alongside investment research, and information on concerns like wealth management.
The provider has also leveraged social media quite well, with the Citi India Facebook page going strong.
It makes an effort to involve followers – one recent example being the ‘Crowd Sourced ATM’ effort, in which participants could vote on upcoming Citibank ATM locations.
Looking outside India, Citibank has just launched a new and improved online banking portal for its North American customers. With an updated look and feel this site is designed to make things simpler and more flexible.
The original platform came with overly technical information on products and services. The new approach aims to speak the customer language, or at least appear approachable.
As consumers both here and overseas make online banking an everyday resource, it looks like the channel will increasingly deserve this kind of attention.
Source