The new proposition from the bank is centered around three key areas: personalized products and services; increased convenience and full suite of global banking services.
Some of the services in the proposition include a dedicated personal banker as the single point of contact for all Citibanking customers, no-fee ATM withdrawals at all domestic ATMs (Citi and non-Citi ATMs) and emergency cash overseas of up to $1,000.
According to the Citibank, the emerging affluent customers are those with annual income of over RMB 200,000 or investable assets more than RMB500,000.
Citi China country business manager Anand Selva said the launch of this platform adds to the bank’s ability to serve affluent customer segment following the introduction of our Smart Banking outlets in China last year, which provide customers with a digital, convenient banking experience that is helping redefine retail banking in China.
In China, this affluent category is expected to grow at 15% per year over the next 10 years.
Earlier this year, similar propositions for the emerging affluent segment were launched in Singapore and Hong Kong.
