30%-40% online customers joining Citibank

Citibank Bhd named Malaysia’s Best Consumer Internet Bank for the fourth time predicts the number of its online customers to increase 30%-40% yearly. Today the bank that launched its online banking business seven years ago has about 500 thousand registered online customers.

According to the head of consumer e-business Roy Heong the forecasted value is based on the previous figures registered by the bank. In the last two to three years Citibank saw between 30% and 40% annual growth in customer base. Thus the administration expects to at least maintain this growth over the next few years.

The key factors that drove Citibank to success were delivering best customer experience, new innovative products, strong online security system and driving significant business contribution via the Internet as stated by Roy Heong.

Customers subscribing for online banking services with Citibank are offered new applications for credit cards and personal loans, payment of utility, telecommunications, insurance and household bills; one-stop property website and personal financial health checks.

Heong also reports that Citibank regularly runs surveys online to ascertain customers’ likes and dislikes when conducting transactions via the Net to ensure its products meet consumers’ needs. With incessant research the bank can understand customer expectations to develop most suitable solutions.