Press release

Citi Named Celent’s 2019 Model Bank of the Year

Sponsored by Businesswire

Citi has been named as Celent’s 2019 Model Bank of the Year. Celent
bestowed this prestigious award to Citi in recognition of the global
achievements of its Treasury and Trade Solutions (TTS) business’
efforts to drive transformational innovation and digitization for the
benefit of its clients. Citi earned top honors from a highly competitive
field of 140 nominations submitted by 80 financial institutions from 30

Citi’s winning submission included eight new global digital treasury
initiatives launched in 2018 as part of the bank’s strategic commitment
to its clients to provide a full range of digital, mobile-enabled
platforms, tools and analytics tailored to meet their evolving treasury
management and working capital requirements.

“Citi is truly honored to receive the Celent 2019 Model Bank of the Year
Award. It shows our unwavering commitment to our clients to be the
financial ecosystem driving global commerce. Our digital transformation
strategies are core to helping our clients succeed in the digital
economy through improved profitability and enhanced client experience,”
said Naveed Sultan, Citi’s Global Head of Treasury and Trade Solutions.
“Our long-term commitment to our clients is to be the enabler of digital
commerce helping them drive positive business outcomes for their

Patricia Hines, Head of Corporate Banking for Celent, in announcing the
award said: “we are delighted to announce Citi as Celent Model Bank of
the Year 2019 in recognition of Citi’s Treasury and Trade Solutions
business’ efforts to embrace change and differentiate with digital. Our
annual Model Bank program is incredibly competitive with nearly 140
institutions submitting. This large number of submissions is inclusive
of the high quality of work going on in the industry, as financial
institutions continue to transform and innovate. Citi is at the pinnacle
of these efforts.”

TTS Award-Winning Digital Solutions and Services

Celent considered five areas of evaluation when selecting Citi as the
overall 2019 Model Bank of the Year winner, including customer
experience, innovative products, operations and risk, legacy
transformation, and deployment of emerging advanced technologies. The
following digital solutions and services from Citi were recognized:

Digital Connectivity innovation:

  • CitiDirect BE® Digital Onboarding – Provides clients with an
    accelerated onboarding experience, replacing the legacy paper and
    courier-based documentation process with a digital platform, including
    the use of electronic signatures, as well as leveraging existing data
    assets to complete KYC and account opening requirements. Through the
    new solution, clients are able to complete their account openings
    within two days.
  • CitiDirect BE® Biometric Authentication – Allows clients to
    login to CitiDirect BE in just seconds. Once users have set up their
    biometric authentication functionality on their mobile device, they no
    longer have to use a traditional token to generate one-time passwords,
    for both mobile and desktop. By leveraging a human characteristic,
    biometric authentication is not only convenient; it is secure.
  • CitiConnect® API Developer Portal – A one-stop hub where
    clients can access the latest documentation on Citi APIs and sandbox
    environment. Usage of the Developer Portal is expected to shorten the
    client onboarding process, accelerate technical development, and
    improve the quality of technology integration between Citi and its
  • CitiConnect® Testing Portal – This innovative portal shortens
    implementation and testing cycles, eliminates manual processes, and
    lets clients proceed at their own pace during the file development and
    testing process.

Product and Service Innovation:

  • Citi® Payment Insights– By leveraging new technologies such as
    SWIFT’s gpi initiative, APIs, cloud computing, and Big Data, TTS now
    provides clients with a simple, digital experience that delivers the
    transparency and convenience clients are requesting, and that is often
    experienced with consumer transactions.
  • Citi® Smart Match – Uses machine learning and artificial
    to help clients increase the efficiency, reduce
    operating costs and automate the process of matching open invoices to
    payments received in order to reduce days sales outstanding, and
    release credit lines so the company can sell more to its clients.
  • Citi Hybrid Earnings Credit Rate (ECR) Account – Allows clients
    to completely offset transaction fees with ECR balances and earn hard
    dollar interest on any excess balances, all within a single account.
  • Citi® Commercial Card Emerging Technologies – Citi leveraged
    data science and machine learning principles to identify patterns in
    historical commercial card spend activity to forecast future client
    spend and to predict a client’s short-term credit requirements based
    on seasonal peaks with 95% accuracy.
  • Citi® Payment Exchange – Provides a single payment touchpoint
    for various U.S. payment types, including Zelle, Virtual Card, ACH,
    card, and check.

Citi’s Treasury and Trade Solutions (TTS) enables our clients’ success
by providing an integrated suite of innovative and tailored cash
management and trade finance services to multinational corporations,
financial institutions and public sector organizations across the globe.
Based on the foundation of the industry’s largest proprietary network
with banking licenses in over 98 countries and globally integrated
technology platforms, TTS continues to lead the way in offering the
industry’s most comprehensive range of digitally enabled treasury, trade
and liquidity management solutions.

About Citi

Citi, the leading global bank, has approximately 200 million customer
accounts and does business in more than 160 countries and jurisdictions.
Citi provides consumers, corporations, governments and institutions with
a broad range of financial products and services, including consumer
banking and credit, corporate and investment banking, securities
brokerage, transaction services, and wealth management. Additional
information may be found at
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