Citi has enhanced the footprint of its Electronic Bank Account Management (eBAM) to 33 geographies across the globe after incorporating improvements to its technology on CitiDirect BE, a new electronic banking portal.
In 2009, Citi started implementation of its eBAM platform, which is actually an electronic portal for bank account which enables users to electronically generate and submit requests for opening, maintenance, and signatory management of Citi accounts.
eBAM caters online forms and documentary requirements, electronic tracking of requests, and immediate reporting of legal entity and bank account information, facilitating self-service of the account administration process.
According to the US bank, the technology uses digital signatures and workflows to modernize the process, while managing internal compliance and bank relationship policies for its clients.
Integration of eBAM reduces time and uncertainty in the management of accounts, thus offering a seamless experience for account administration and transactional requests.
Citi’s eBAM product has been designed to drive business productivity, decrease operational risk, and enhance effectiveness in conventional paper-intensive processes.
Operating in 160 geographies globally and managing 200 million customer accounts, Citi offers consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.