This global bank is ‘obsessed with creating exceptional client experiences’

This year marks Citi’s 120th anniversary in Singapore. In that time, Citi’s presence here has grown from a small branch at 1 Prince Street to become a vital part of the bank’s global business. Today, Singapore is one of Citi’s four wealth hubs, as well as a key operational and technology centre for the financial institution’s businesses globally. 

With a razor-sharp focus on delivering excellence, Citi’s consumer banking arm – Citibank Singapore – was ranked the top commercial bank in Singapore's Best Customer Service survey by The Straits Times and research firm Statista.

Mr Brendan Carney, chief executive officer of Citibank Singapore, outlines the philosophy that drives his bank’s business: "At Citibank Singapore, we are obsessed with creating exceptional client experiences, whether they are meeting with our dedicated team of experts or using our intuitive mobile app. I want to thank our customers for recognising our efforts with this best customer service accolade. We remain committed to making banking personalised, faster, safer and more convenient for our customers.”

Citibank strives to help customers grow and protect their wealth by offering a suite of investment and insurance solutions, through face-to-face advisory or simple steps on the Citi Mobile® App. 

Customers can do close to 100 per cent of financial transactions at their fingertips on the mobile app, thus allowing them to bank anywhere, anytime. For customers with more complex financial needs, the bank offers personalised advisory to meet them at every life stage. In December 2020, the bank opened its largest wealth advisory hub globally at 268 Orchard Road to provide customers with a space for these wealth conversations. Since its opening, over 16,000 client engagements have taken place at the wealth hub.

With the formation of Citi Global Wealth last year, the bank now has a single, integrated platform serving clients across the wealth continuum – from the affluent segment to ultra-high net worth clients. Its retail clients can now tap into the bank’s global capabilities and gain access to more products, solutions, research and content.

As consumers change their banking behaviours, Citibank has also evolved accordingly. Today, the bank has an omni-channel model of engagement that encompasses a range of physical and digital customer touch points. 

A key digital touch point, the Citi Mobile® App, underwent a series of upgrades last year across the customer life cycle to make the entire digital banking experience more streamlined and intuitive to customers. For example, a new messaging service on the app was launched to respond to customer queries and provide effective resolution within the mobile ecosystem. In addition, Citibank’s new card customers are able to log in to the mobile app to access digital versions of their card and activate them to make online purchases almost immediately, while waiting for their physical card to be delivered. 

The bank has also continued to invest in building proprietary sophisticated digital wealth tools, such as Total Wealth Advisor and Portfolio 360°, to ensure customers are always in control of their wealth plans. 

This year, Citibank rolled out the Data Lab series internally to further strengthen a client-centric mindset. This series includes a Beta Lab to sample and test new features on the mobile app, and a Design Lab which encompasses mystery shopping and data collection to eliminate friction points and design a seamless customer journey.

While Citi’s digital touch points are making lives easier for all, there is still a desire among some customers to meet their relationship managers (RMs) face-to-face in a physical setting. At these meetings, RMs focus on listening to their customers in order to present personalised advice aimed at meeting their financial goals. 

It’s also a channel for them to engage in deeper wealth conversations and address clients’ more sophisticated needs.

“We do not focus on selling our customers products, but rather, we see ourselves as partners in their wealth journey. We have a strong team of global analysts and dedicated relationship managers who can help map out a wealth plan to help our customers meet their wealth goals," said Mr Carney.

To better anticipate client needs and deliver a superior and consistent level of customer service, Citibank invests substantially in the training and development of its staff, including RMs and CitiPhone officers.

The bank also offers a robust and comprehensive onboarding programme for newly hired RMs. The training is rigorous, comprising a 12-month onboarding and development programme that involves acquiring both technical as well as soft skills. Citibank also provides a track for RMs from non-banking backgrounds.

Another notable initiative is Citibank’s collaboration with the prestigious Wharton School of the University of Pennsylvania to train its RMs to be better advisors through curated wealth management training programmes.

CitiPhone officers serve customers through three of the bank’s channels: voice, chat messaging and email, and go through rigorous technical and soft skills training across servicing channels and products before any customer interaction. The officers are empowered to resolve queries in the first call or customer interaction. They are also equipped with cross-skill training to help them keep pace with the fast-changing world of technology and automation, enabling customers to navigate and self-serve through the mobile app.

The bank places utmost priority on customer feedback for continuous improvement, and customers receive a satisfaction survey immediately after the call. This closed-loop process is designed to enhance customer experience and continuously develop better service offerings.

As a whole, Citibank is doubling down on its Singapore presence and remains committed to serving its customers here well, despite the challenges posed by global geopolitical uncertainty, inflation and rising interest rates.

Mr Carney said: “There are signs that we're on the right track but there's still room for improvement. There's a lot of competition in our industry and our customers' needs are evolving. It's about keeping the focus on the customer, staying ahead of the game, and making sure we have relevant products and exemplary experiences at every touch point.”