Citigroup Announces Major Enhancements To CitiDirect® Online Banking
Award-Winning Web-Based Corporate Banking Platform New Release Available to Clients in Ninety (90) Countries
April 21, 2003, New York – Citigroup Global Transaction Services, a member of Citigroup, the premier global financial services company (NYSE:C), announced that a new release of CitiDirect® Online Banking is now live for client use. These major enhancements to the award-winning Web-based corporate banking and information delivery platform add numerous features, extend functionality and improve the ease of use for clients who use CitiDirect for transaction banking business. This release provides the ability to make payments in eleven additional countries and collections in five more countries, allowing clients to use CitiDirect® Online Banking in 90 countries.
Corporate clients and financial institutions use CitiDirect® Online Banking to initiate payment and trade transactions, as well as access netting, collections, liquidity management and multibank cash concentration services. CitiDirect also supports our WorldLink® Multicurrency Transaction Services and Citibank® CLS™ Settlement Services, and enables users to generate or track insurance letters of credit. A new, more powerful reporting engine and flexible file management capabilities provide clients with more in-depth, real-time intelligence on their accounts.
"CitiDirect® Online Banking is one of the largest technology investments of Citigroup and the enhancements made in this release extend our footprint around the world. We now have complete payment, receivables and trade capabilities in the emerging markets and expanded functionality across all major cash management and trade product lines," said Chris Foskett, Head of Global Sales and Marketing, Citigroup Global Transaction Services. "This release was smoothly implemented during a weekend conversion and delivered to clients four weeks earlier than promised," he concluded.
"Understanding and anticipating client needs allows us to serve as a trusted advisor. Delivering this release and others planned later this year, allows us to provide solutions in the local markets where our clients are transacting business," said Paul Galant, Global Head of Cash Management, Citigroup Global Transaction Services.
With this upgrade, new payment methods were added in over 30 countries. For the first time in 11 countries, clients now have the ability to make payments in the Bahamas, Bolivia, Dominican Republic, El Salvador, Gabon, Haiti, Honduras, Jamaica, Lebanon, Trinidad and Tobago and Tunisia. Receivables (collections) capabilities were added in 5 additional countries: Brazil, Chile, Costa Rica, Ecuador and Paraguay.
Named Best of the Web in the Financial Services category by Forbes.com in the fall of 2002, CitiDirect® Online Banking is currently available in 20 languages including: Bulgarian, Simplified Chinese, Traditional Chinese, Czech, English, French, German, Greek, Hebrew, Hungarian, Japanese, Korean, Polish, Portuguese, Romanian, Russian, Slovak, Spanish, Thai and Turkish. CitiDirect Online Banking has also been recognized by numerous trade journals throughout the world such as Global Finance, Treasury & Risk Managmement, FinanceAsia and Euromoney - including being named the Best Web Site for Cash Management Services by euromoney.com in 2002 for the second consecutive year.
CitiDirect® Online Banking not only increases efficiency and improves the ability of corporate treasurers to make critical cash management decisions, but also provides access to the complete portfolio of corporate banking services provided by Citibank all over the world. To view an online demo and take a guided tour of CitiDirect® Online Banking's capabilities, please visit www.citidirect.com
About Citigroup
Citigroup (NYSE: C), the preeminent global financial services company
with some 200 million customer accounts in more than 100 countries,
provides consumers, corporations, governments and institutions with
a broad range of financial products and services, including consumer
banking and credit, corporate and investment banking, insurance, securities
brokerage, and asset management. Major brand names under Citigroup's
trademark red umbrella include Citibank, CitiFinancial, Primerica,
Salomon Smith Barney, Banamex, and Travelers Life and Annuity. Additional
information may be found at: www.citigroup.com.
About Citigroup Global Transaction Services
Citigroup® Global Transaction Services is a leading
provider of integrated cash management, trade finance and securities
services for corporations, financial institutions, intermediaries
and governments around the world. With over $ 85 billion in average
liability balances, more than $ 5 trillion in assets under custody
and the largest proprietary branch network, Citigroup's award-winning
operating systems and Internet-based delivery channels enable clients
to manage and monitor working capital and investments more efficiently,
streamline transaction processing cycles, and re-engineer receivables
and payment processes. Citigroup® Global Transaction
Services provides clients with access to Citigroup's full range
of capabilities and solutions along with an on-the-ground presence
and in-depth knowledge of more than 90 local markets. For additional
information, see www.transactionservices.citigroup.com.
