Citi announces the launch of Digital Account in Latin America

By Pavithra R

Citi Treasury and Trade Solutions (TTS) Latin America has announced the launch of the Citi Digital Account, which leverages innovative digital capabilities using CitiDirect BE Digital Onboarding, Electronic Signatures, and Digital Product Activations.

“Citi’s Latin America business has successfully developed one of the most comprehensive platform value propositions as a part of its Digital First strategy. Our digital value proposition has evolved from enabling clients’ treasury digitization objectives, such as efficiency and transparency, to helping them compete in the digital economy,” said Steve Donovan, Latin America Treasury and Trade Solutions Head at Citi.

The Citi Digital Account offers institutional clients the ability to completely digitize their banking experience without the requirement of checkbooks , wet-signed signature cards, or manual transactions. Clients will also benefit from a suite of digital self-service capabilities and biometrics authentication. The Citi Digital Account offers complete integration with Citi’s Digital Bank Platforms making account management seamless and accessible while optimizing the information clients use to make decisions.

“The future of Banking in Latin America is here, and it is checkless. The Citi Digital Account will help build a cashless digital economy. Digital adoption is rapidly growing throughout Latin America. There is a rise in Central Bank Digital Currencies, Open Banking and Real-Time Payments. After four years of building our Digital Bank and transforming our business model, today we have the leading Digital Platform in Latin America to help businesses and governments succeed in the digital economy,” said Driss Temsamani, Head of Digital, Citi TTS Latin America.

Currently, Citi Digital Account is offered in Brazil, Costa Rica, Dominican Republic, Ecuador, Guatemala, Colombia, and Puerto Rico, with additional countries to follow in 2022. Expanding upon the CitiDirect BE Digital Onboarding platform launched in Brazil in 2019, the Digital Account is the latest step in the firm’s digital transformation in the region.