Citi’s Treasury and Trade Solutions (TTS) has launched its new digital onboarding service for institutional clients.
The new CitiDirect BE Digital Onboarding solution is available to institutional clients in North America and six countries in Western Europe. Releases are scheduled for the rest of EMEA, Asia Pacific and Latin America in the coming quarters.
Its new service will accelerate the onboarding process by replacing all paper-based documents with digital versions – electronic signatures are supported by the CitiDirect BE solution. The platform leverages existing data assets to complete KYC and account opening requirements.
New clients will be able to open their accounts within two days, helping them to save time and improve flexibility around opening the account.
Citi’s Treasury and Trade Solutions global head Naveed Sultan said, “Across Citi’s Treasury and Trade Solutions we are digitizing our core banking capabilities, processes and platforms, from front to back, to improve the way clients interact with us and use our products and services.
“CitiDirect BE® Digital Onboarding is an extension of these initiatives – of digitizing the client experience end-to-end.”
Late last year, Citi Treasury and Trade Solutions released fingerprint and facial recognition tools for its desktop and mobile platforms. Users are now capable of using a fingerprint or face scan to access their accounts, replacing the current token-based password generator process.
The firm also made a minority investment into data privacy company Privitar at the close of 2018. Privitar delivers data-privacy software to help companies protect their data and to conduct ethical data analysis.
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