23 February 2018
visit www.ebaday.com

Citi wins Chinese Internet license

28 January 2003  |  4720 views  |  0 Citi wins Chinese Internet license

Citibank has won approval to become the first foreign bank in China to offer Internet-based banking services to both corporations and consumers.

HSBC, Bank of East Asia and Hang Seng Bank each won approval earlier this year to offer Web-based banking services to Chinese consumers, but Citi claims to be the first to offer corporate Internet banking.

The US bank is making a Chinese language version of its CitiDirect Online Banking platform available to Chinese companies, offering real-time processing and integration with in-house treasury systems.

The bank has also developed a customised version of its Easy Payments platform, allowing local corporates to make renminbi payment transactions to beneficiaries in over 7000 locations in China.

The bank is also introducing Citibank.com.cn, an Internet banking portal that allows corporations and consumers to manage their accounts online, make online enquiries or transactions, view personalised pages as well as get online tools and real-time global market information.

"Citibank is the leading provider of cash management and trade services in China," says Ivo Distelbrink, head of cash, trade and treasury services for Citibank in China. "Our Internet solutions provide clients with more channels to communicate with us and allows them to benefit from greater control and cost efficiency, which are top of mind for treasurers today."

Citibank in China currently operates four branches – Beijing, Shanghai, Guangzhou and Shenzhen, a sub-branch in Shanghai Puxi, and two representative offices in Xiamen and Chengdu.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Citi Cards launches fiscal fitness centre

Citi Cards launches fiscal fitness centre

21 January 2003  |  2983 views  |  0 comments
TradeCard opens China office

TradeCard opens China office

15 January 2003  |  2775 views  |  0 comments
Union Bank of Taiwan joins Citibank CLS settlement service

Union Bank of Taiwan joins Citibank CLS settlement service

13 January 2003  |  3499 views  |  0 comments
Foreign banks launch Internet banking in mainland China

Foreign banks launch Internet banking in mainland China

03 January 2003  |  4055 views  |  0 comments
China's financial IT spending to reach US$10.5bn by 2006

China's financial IT spending to reach US$10.5bn by 2006

17 December 2002  |  2799 views  |  0 comments
Citibank offers new users free broadband connection and Freeserve account

Citibank offers new users free broadband connection and Freeserve account

11 December 2002  |  3965 views  |  0 comments
Citibank provides 24-hour banking at BP gas stations in Moscow

Citibank provides 24-hour banking at BP gas stations in Moscow

10 December 2002  |  2731 views  |  0 comments
Citi takes delivery of SchlumbergerSema chip card offerings

Citi takes delivery of SchlumbergerSema chip card offerings

10 December 2002  |  4815 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register for the webinarVisit www.vasco.comvisit www.swift.com/your-needs/instant-payments

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
11124 views comments | 14 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10143 views 3 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
8010 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
7649 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
7419 views comments | 10 tweets | 14 linkedin

Featured job

Find your next job