Disruptive Client Experience in the Digital Banking Era

Recognizing evolving client needs and embracing technologies to reinvent client experience are crucial to maintain competitiveness and thrive in the ever-changing business landscape. The banking industry is undergoing a revolutionary paradigm shift driven by digital transformation and new competition from the emerging virtual banking services; and with each new generation of clients becoming more digital savvy, increasing expectation of digitized experiences will have to be met.

While financial institutions leverage technologies to strengthen their digital value proposition, and bring round-the-clock personalization and convenience with trust to clients, the pandemic has undoubtedly accelerated the pace of digital adoption, compelling businesses to be more agile to forward-thinking trends and insights, and more importantly, anticipation of client needs.

Citibank is one of the leading global banks with a strong focus on Client Obsession. Citibank was the first bank in Hong Kong to launch digital banking services back in the 1990s and it has launched many industry-first innovations over the years. Citibank is committed to injecting new ideas to provide the best client journey and fulfill all transactional banking and wealth management needs on their terms and at their convenience.

Being the first bank in Hong Kong to adopt Open API technology in 2017, Citibank is now collaborating with over 20 partners to offer a wide range of services to clients in their digital ecosystem and to bring them unrivalled digital experience. In fact, Citibank has launched almost 30 digital initiatives over the past few years, half of which are first-in-market, demonstrating the bank’s capabilities in sparking digital innovation. On average, one new digital service is launched every month.

In this challenge, Citibank is looking for innovative ideas that can further accelerate the bank’s digital transformation so as to enhance the client journey with the next-gen banking services. In particular, emphasis should be placed on integrating Citibank’s banking services with the non-banking parts of people’s life, with a view to exploring opportunities for Citibank to advance smart banking and play an active role in the development of Hong Kong as a smart city. Accordingly, your proposal can involve ideas beyond Citibank’s existing service portfolio or initiatives to enhance client’s touchpoints in both on and off-line.