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Survive to Thrive Data Blog Series: Acceleration of Digital in Corporate Banking

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26 May 2020
Alenka Grealish

Across a variety of metrics

As banks' commercial and corporate clients scramble to the work from home model and follow business continuity plans, there has been acceleration in digital engagement in both attended and unattended channels. This acceleration is evidenced by data from Citi on growth in both CitiDirectBE and CitiConnect usage (March yoy growth):

  • 24% increase in total number of CitiDirect BE online and app users
  • 18% increase in total number of logins on CitiDirect BE
  • 10-fold increase in active CitiDirect BE App users this year, with approximately 50% of these users leveraging biometric authentication
  • 1,000 new accounts opened digitally a growth of 300%
  • API volumes multiplied four times

Source: Citi, 5/13/20

This blog is part of a data series in our ongoing coverage of developments around COVID-19. View the rest of the blogs within this series:

  1. Insights on Shifting Retail Banking Customer Needs
  2. Acceleration of Digital in Corporate Banking
  3. Consumer Saving During COVID-19 and the PFM Opportunity