Citi launched the next generation of its commercial online banking platform—CitiDirect BE from Citi's Global Transaction Services.
CitiDirect BE is designed to give clients more visibility, control and efficiency in their banking processes. It scales across the spectrum, from small businesses to multinational corporations.
CitiDirect BE (the BE representing "Banking Evolution") builds on its predecessor, CitiDirect Online Banking, first introduced in 1999. The bank says the new version will provide functionality beyond traditional transaction management and reporting, such as analytics and user-generated content, a media/video channel as well as Citi's Electronic Bank Account Management offering. In addition to these new features, CitiDirect BE makes these tools available via the multiple delivery channels corporate clients require, including a web portal, a la carte web services, straight-through connectivity via SWIFT or the Internet, as well as mobile devices.
The CitiDirect BE platform is based on a service-oriented architecture (SOA) and open standards. Citi says opportunities are created for other banks in terms of white labeling the platform due to its greater flexibility and modular design.
Citi Global Transaction Services chief innovation officer Gary Greenwald further describes CitiDirect BE's functionality in this video.