Citi in 2017 grew its retail banking business in the Asia Pacific region from one quarter to the next. The U.S. company is working hard to make its services more digital and accessible for Asian consumers.
Citi's consumer bank in Asia Pacific reported its sixth consecutive quarter of revenue growth for the three months through December 2017, the U.S. company said in a statement today. The bank serves 12 markets in Asia.
For the full year 2017, Asia Pacific revenues were up 7 percent at $7.3 billion and net income rose 16 percent, making the division the fastest growing consumer business for Citi globally in 2017.
The bank credited a number of digital innovations driven by extensive use of big data and next generation analytics, and leveraging open banking capabilities with application programming interface (APIs) to integrate and embed new partners.
Singapore Chatbot
Citi has established digital credit card partnerships with tech players including Amazon, Grab, Lazada, Expedia, and Airbnb and recently partnered with Facebook to launch its first banking chatbot in Singapore on the social network's messaging service.
«We have been transforming our business to be simpler, faster, scalable and digital,» said Anand Selva, head of consumer banking in Asia and in Europe, the Middle East, and Africa.
