Citi’s Treasury and Trade Solutions’ has launched electronic document submission (“eSubmit”), a digital service that allows clients to complete the account opening process by returning electronic versions of account opening documentation rather than paper, in select Western European countries.
The new offering, to be rolled-out in phases to select Western European countries including Denmark, Finland, Norway, Sweden, Ireland, France, Jersey and the United Kingdom, aims to eliminate the paper intensive process of account opening while speeding-up the overall process of onboarding. The service will also offer clients an accelerated method to sign documents when account signers are geographically dispersed. The service was previously made available to pilot clients in the United States and Canada.
“This is an important advancement for Citi as we continue to execute against our goal to deliver a simple, streamlined, account opening process”, comments Sabine McIntosh, Global Head of Account Services Product, Citi Treasury and Trade Solutions. “By embracing the move toward digitization, and continuing our efforts to digitize our services, clients using eSubmit can be more efficient in managing their bank account management requirements.”
Magdalena Mielcarz, EMEA Head of Channel and Enterprise Services, Citi Treasury and Trade Solutions, continues: “Traditionally, account opening and maintenance requests have been extremely paper intensive. This service aims to diminish this, providing our clients with a more direct document exchange and the potential for faster turnaround times with their account management requests.”
Contributed | what does this mean?