Citibank's CitiDirect Online Banking makes official Middle East debut

CitiDirect(R) is available in 85 countries and 12 languages. More than 3,000 customers and 6,000 individual users around the world use CitiDirect(R), with new customers being added daily.

CitiDirect(R) Online Banking is Citibank's web-based delivery platform that offers seamless global access to an expanding array of corporate banking services through a single window, allowing customers to be more efficient, more flexible, and more in control of their banking transactions.

CitiDirect(R) has already acquired more than 120 Middle East corporate clients since being piloted in the region in October 2000, among them leading Fortune 500 and 'Top Tier' local companies. Citibank officials hope to migrate all their existing Middle East corporate customers onto the service in the near future, as well as convert new ones.

Up to March 2002, CitiDirect(R) processed more than 600,000 payments worldwide, totalling in excess of US$450 billion, and built a global customer base of more than 6,000 companies. The service is expected to be available in Arabic early next year.

Attending the press launch, Shehzad Naqvi, Regional Head of Citibank for the Gulf, Levant and Pakistan, said: "Regardless of whether they are already doing business on the web, Middle East companies can benefit from an enhanced banking experience through CitiDirect(R)."

Naqvi continued: "The testimonials of satisfied customers are hard evidence that CitiDirect(R) is a product you can trust. Citibank has invested heavily to create a uniform, simple and secure online banking resource for corporate companies to further streamline their business practises and maximise efficiency."

"We're delighted to be in a position to offer our Middle East customers the most advanced banking services available anywhere in the world. No bank in the region offers services on the web as comprehensive as CitiDirect(R)."

CitiDirect(R) Online Banking enables customers to perform multiple real-time banking functions via one access point. Customers can track and monitor transactions, view account balances in detail, conduct online enquiries, and make online transactions wherever they are.

The product is easily installed directly from the web and upgrades to the service occur automatically. Furthermore, Citibank's Customer Service Managers provide support remotely to CitiDirect(R) customers.

Sankar Krishnan, Head of Citibank e-Business Group, Gulf, Levant and Pakistan, said: "Citibank prides itself on being a solutions provider for its customers and the growing integration of the Middle East's business community and the internet is a green light for CitiDirect(R).

"Citibank is committed to providing Middle East customers with innovative and cutting-edge solutions, such as new payment gateways for marketplaces, and offering comprehensive services on the web that make doing business better and easier."

Ali Abbas Sikander, Resident Vice President of Citibank's e-Business Group, said: "The compatibility and ease of integration of CitiDirect,, with third-party systems are key assets. CitiDirect(R) offers global access, the freedom to customise functions and work flows to meet a company's specific needs, and the capacity to take care of all trade, payments and collections requirements."

Sikander added: "Security is also a fundamental aspect of CitiDirect(R). Corporate customers are protected by multi-layered security provisions that include access control, encryption, authentication and audit trails."