Microsoft and Citi’s Global Transaction Services (GTS) have collaborated on a multiyear initiative to support CitiDirect BE, Citi’s newly launched e-banking platform, serving its corporate, financial institution and public sector clients and also optimized for the white-label business model.
Reportedly, with a global network spanning more than 100 countries, Citi is expected to benefit from this collaboration as the CitiDirect BE platform will help monetize service offerings and broad geographic coverage, while taking full advantage of Microsoft’s expertise in platform engineering, development of independent software vendor communities, and product life-cycle management.
By leveraging Microsoft Office SharePoint Server 2007, it has been reported that, CitiDirect BE will raise the competitive bar beyond transactions to include sophisticated analytic capabilities, self-service modules such as Citi’s Electronic Bank Account Management (eBAM) offering, and rich media to provide expert insights on current trends and economic news affecting clients’ business. The new platform has taken a client-centered approach in its design focusing on providing clients with greater visibility and control over their business processes to create a richer online banking experience.
Gary Greenwald, chief innovation officer and global head of Capabilities and Information Products at Citi, said: Our institutional clients are demanding banking platforms and technology that gives them greater transparency and control over their working capital flows, increases their liquidity and improves the efficiency of their treasury and supply chain processes. Working with our best clients, we’ve created CitiDirect BE to address these needs, both for corporations as well as for banks, who are able to offer this innovative service to their clients on a white-labeled basis, under their own brand, reducing upfront IT costs.
Susan Hauser, vice president of Worldwide Financial Services at Microsoft, said: This engagement aligns with our enterprise market strategy of driving integrated customer experiences. Our collaboration is a unique opportunity for Microsoft to help financial services institutions realize a better customer-connected experience because Citi will have access to a virtual lab of engineering thought leaders, and have direct influence over enterprise product road maps.
