1. Citibank platform for ‘financially progressive’

Citibank platform for ‘financially progressive’

The banking platform called ‘Citi Priority’ is designed for customers that have a relationship value of Rs 15 lakh with Citibank

By: | Mumbai | Updated: September 24, 2015 12:45 AM

Citibank India on Wednesday launched a new retail banking platform called ‘Citi Priority’ that aims to cater to the financially progressive consumers in the country. The bank said the platform is designed for customers that have a relationship value of Rs 15 lakh with Citibank. This would include the overall relationship that a customer has with the bank, including loans, investments, bank balances etc., it said.

Citibank said clients in this segment would receive preferential pricing on Citibank products. In addition to wealth management services with a unique online financial planning tool and model portfolio, clients will receive a Citi Priority World Debit Card with MasterCard that offers exclusive global rewards and privileges and a Citibank PremierMiles credit card, it said.

In an interaction with journalists, Kartik Kaushik, country business manager, global consumer bank at Citibank India, said currently the segment they are targeting does not have a tailor-made proposition and by providing personalised services, the bank is focussing on increasing the share of wallet.

“I see two things happening. One, we will see a clear growth in terms of their share of wallet with us because of the personalised attention. Their natural wealth growth is also scaling up. So, a combination of that will give me a much higher growth rate in this segment and that is the purpose,” said Kaushik.

Out of the bank’s focussed retail offerings, over 10% of the customers are expected to move to this segment, Citibank said, adding that India is the fifth country in Asia to offer Citi Priority.

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Tags: Citibank

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