Citibank India wins Excellence in Internet Banking Award for 2009

Written by Businesswire India | Mumbai | Updated: Mar 31 2010, 20:32pm hrs
Citibank India has won the "Excellence in Internet Banking" for the year 2009 in The Asian Banker Excellence in Retail Financial Services Awards Programme. Citibank Indias internet offering was chosen as the best amongst 120 banks and financial institutions from 23 countries across the Asia Pacific, Gulf and Central Asian regions. The prestigious Programme, administered by The Asian Banker is refereed by prominent global bankers, consultants and academics. The Winner was determined after a stringent three month-long evaluation process based on a balanced and transparent scorecard.

"Citibank Indias strength in online product innovation and online portfolio management has led to its continued online leadership," said Mr. Chris Kapfer, head of the Excellence in Retail Financial Services Programme at The Asian Banker.

Citibank India's internet and mobile banking is its largest channel for customer interaction, providing a convenient and efficient banking service. The well engineered online offering enables customers to manage their accounts through an easy to use and functionality loaded interface. It allows them to perform every possible banking transaction online at and the linkages to credit cards, loans, mutual funds, brokerage and insurance products differentiate Citibank Online from the other entrants. Potential customers can also access information on the entire range of financial products that Citibank India offers, and can apply online for straight-through approvals for most products. Citibank India was one of the first banks to launch multi-factor authentication - using a combination of instruments such as hardware tokens, one-time passwords and email and sms alerts for its domestic and NRI customers.

Speaking on the occasion, N. Rajashekaran, Country Business Manager, Consumer and Commercial Banking, Citi India, said, Online and mobile banking has become a key convenience driver for our customers. As forerunners in offering digital banking, this service has been built to be user friendly and secure. We will continue to invest and innovate in this area based on our customers' feedback and evolving needs.

Citi was also named Best Regional Retail Business in Asia for 2009 by The Asian Banker for the second consecutive year. In addition to these, Citi also picked up awards for Best Retail Bank in Taiwan, Excellence in Branch Innovation in Singapore and Hong Kong and Excellence in Customer Relationship Management in China.

The award evaluation process uses a balanced scorecard approach and a comprehensive methodology to evaluate the strength of individual banks retail banking businesses that involve extensive research and probing interviews, and taps on the combined experience of a team of experienced researchers.