Citibank draws 1.1-M mobile bank clients

MANILA, Philippines - Citibank has gained a mobile banking client base of 1.1 million in the Asia Pacific region, the biggest by a single financial institution.

“This makes Citi Mobile the most active and widely used mobile banking platform in the region, adding further to the bank’s reputation as the market leader in digital banking in the region,” Citi said in a statement.

Citi has 1.1 million user clients who conduct banking transactions through its mobile services in the region, and is adding between 60,000 to 70,000 new mobile users every month.

In total, the bank sees between 12 to 13 million online and mobile log-ins every month.

Citi is the first global financial institution to launch a mobile banking app throughout Asia Pacific. Launched in 2008 in Hong Kong, the application has since been rolled out across the region.

The Citi Mobile application is currently available in 12 regional markets on iPhone, Android and Blackberry platforms. Data show that 95 percent of all transactions for Citi in Asia are done outside a branch.

The global financial institution said the mobile banking milestone in Asia builds on the further successful use of innovation in the region.

In 2010, smart banking branches, which embrace modern technology to serve clients quicker and more simply, were launched first in Asia. These branches are bringing in several thousand new clients monthly, at three to five times faster rate than in traditional branches.

Global head of mobile banking and Asia Pacific head of e-business and direct banking Rajesh Yohannan said Citi will invest further in its mobile banking capabilities. Next year, it will be introducing a number of enhancements and new innovations in different markets.

Among the major developments will be tablet banking launch for Australia, Singapore, Thailand, China, Malaysia, Indonesia and the Philippines.

“Currently, we have a few markets where digital channels contribute in excess of 25 percent of Citi’s new credit card account. With our new capabilities, we are certain that the share of new business through mobile will grow exponentially,” Yohannan said.