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Citi Crosses $1 Trillion Transaction Value Milestone in Institutional Mobile Banking

V.ZZE.H | February 23, 2016

Citi’s Treasury and Trade Solutions has processed over $1 Trillion globally, in client transaction value, on CitiDirect BE^® Mobile and CitiDirect BE^® Tablet since 2011.

“The scalability of CitiDirect BE Mobile and CitiDirect BE Tablet is a testament to our client-driven approach in both institutional mobile banking and to product development led by our engineers,” said Naveed Sultan, Global Head of Citi’s Treasury and Trade Solutions (TTS) business. “As mobile technology and business demands rapidly evolve, TTS has met changing client needs with agility and we continue to drive innovation and deliver services to enable our client’s success worldwide.”

CitiDirect BE Mobile was launched in 2011 as a mobile-optimized channel extension of CitiDirect BE^®, to provide corporate treasurers with convenient access to critical functions such as payment initiation, authorization and release, trade authorization, global cash position and payment status monitoring as well as real-time notifications. This was followed by the introduction of CitiDirect BE Tablet in 2013, which offers clear visualizations of liquidity positions and helps senior treasury executives in their decision-making process, by giving them an appealing and intuitive platform.

These award-winning services were conceptualized in 2011, when Citi undertook a market-leading effort to launch a full set of digital banking capabilities for institutional mobile and tablet devices. Using a nimble development model, the Citi Innovation Lab in Dublin, Ireland was able to transform Citi’s digital presence from online to mobile by providing clients with anytime, anywhere access.

“We are proud of the tremendous growth in mobile usage by our institutional clients and crossing this milestone in transaction value. CitiDirect BE Mobile’s ease of use reflects our ability to deliver best-in-class institutional banking solutions through strong client partnerships and focused execution across our in-house innovation labs as well as technology, operations, product, and relationship teams. As new technologies emerge, we look forward to continuing to deliver value-add innovation for our clients,” added Mike Whitaker, Global Head of Institutional Clients Group Operations & Technology at Citi.

TTS’ innovative mobile banking products have been recognized widely by the industry, including Global Finance magazine, Barlow Research Associates, Inc., The Banker magazine, American Banker magazine and by the GSMA at its 2015 Mobile World Congress.

Citi’s TTS division enables 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 100 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.