Citi has expanded its Electronic Bank Account Management (eBAM) to 33 countries with new enhancements to its solution on CitiDirect BE, Citi's new electronic banking portal.
Citi, an industry leader in eBAM, has had an electronic portal for bank account management since 2009. Using eBAM, clients can electronically create and submit requests for opening, maintenance, and signatory management of Citi accounts. eBAM enables self-service of the account administration process by providing online forms and documentary requirements, electronic tracking of requests, and instantaneous reporting of legal entity and bank account information. Citi's advanced solution utilizes digital signatures and Workflows to streamline the process while managing internal compliance and bank relationship policies for its clients. This reduces time and uncertainty in the management of accounts.
By integrating electronic tracking of paper requests to the existing capability, Citi is enabling faster country adoption of eBAM. eBAM integrates and shares common services with the portal to provide clients with a seamless experience for account administration and transactional requests.
"As our clients continue to digitize their business processes, Citi remains focused on the importance of innovation and technology to provide market-leading solutions that reflect the changing marketplace. We are committed to evolving our eBAM offerings to increase efficiency in bank account management for our clients and improve the client experience," said Naveed Sultan, Global Head of Treasury and Trade Solutions at Citi.
Citi offers a comprehensive eBAM product designed to drive business productivity, decrease operational risk, and increase efficiency in traditionally paper-intensive processes.