Citibank launches next-generation banking channel

Citibank(Citi) has introduced a next-generation banking channel in Asia - Citibank Express, which aims to allow customers to carry out their banking without visiting their branch, including opening accounts and applying for loans, cards and cashier's cheques.

Citibank (Citi) has introduced a next-generation banking channel in Asia – Citibank Express, which aims to allow customers to carry out their banking without visiting their branch, including opening accounts and applying for loans, cards and cashier’s cheques.

Jonathan Larsen, Citi’s global head of retail banking and head of consumer banking, Asia, said Citibank Express is a big step towards Citi becoming the "world’s digital bank" and would significantly impact the way people bank across the globe.

According to Citi, Citibank Express is equipped with an online banking connection, video-conferencing and biometric capabilities for customer authentication. The machines also have scanning and embossing functions to allow for future roll-outs such as the instant printing of credit or ATM cards.

The first Citibank Express machines were unveiled in branches in Singapore, Malaysia and the Phillipines. Citi plans to add in-branch and out-of-branch locations across Asia and globally later in the year.

Chris Kay, global head of ventures and incubation for Citi Ventures said: "The ability to rapidly set up the machines and to add features as we develop them is a key characteristic of Citibank Express.

"We don’t expect it to replace branches, but it will simplify our customers’ lives, generate new value for Citi and help to transform the financial services industry."