Citibank launches e-banking for institutional clients

CITIBANK has launched an electronic banking platform in Singapore for its institutional clients, to increase transaction transparency, reduce fraud exposure and improve operational efficiency.

The CitiDirect Banking Evolution provides an integrated suite of solutions beyond the traditional transaction management and reporting services offered under its CitiDirect online platform. The bank said it invests "tens of millions of dollars" into this new platform every year.

With the new system, institutional clients can view receivable and payment flows, as well as their aggregated cash balances, across different countries. They can also identify abnormal transactions with the Payments Risk Manager feature and investigate into potential fraudulent transactions.