Citigroup launched a digital platform for its commercial banking clients today as it continues to build out its digital offerings.

The $2.4 trillion bank’s CitiDirect Commercial Banking (CCB) allows commercial banking clients to gain a consolidated view of their Citi banking relationship, with access to liquidity, exposure, trade and FX positions through side-by-side comparisons, delivering key data that can help drive portfolio decisions, Mark Sugden, head of CitiDirect commercial banking and digital transformation, told Bank Automation News.  

The solution allows corporate clients to open accounts and manage banking with one login, according to a Citi release.  

Personalized platform 

The single secure login uses Citi’s enterprise cybersecurity infrastructure and the intuitive online banking model puts the most common tasks at clients’ fingertips, Sugden said.  

Corporate clients and their teams can share one account with different capabilities and views depending on the person’s interaction needs, he said. For example, “an individual logging in who is the treasurer of [the] company may have a different view and functionality to the CEO of that same company.” 

CCB is fully integrated with Citi’s Institutional Clients Group (ICG) systems and platforms, including cash, loans, trade and FX solutions, Sugden said. Citi’s ICG is an integrated global network that provides client solutions through global insights, client relationship management services and cross-border product expertise, according to Citi’s website. 

Through CCB, commercial clients will have a unified digital banking experience, especially necessary as corporate clients grow globally, Sugden said. “We are ideally placed to support mid-sized corporates looking to ‘go global’ or who have complex cross-border needs,” he said. 

Nearly two-thirds of Citi’s commercial banking customers in the United States are using the platform. It is to expand to the United Kingdom, India, Hong Kong and Singapore in the second half of this year. 

Commercial clients can use CCB through Citi’s web browser application, Sugden said, noting that a mobile app is in development. 

CCB follows the bank’s push to provide better services to commercial banking clients. For example, last month, Citibank partnered with BestBuy, onboarding it to Citibank’s SMB lending platform, Bridge. 

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