33 p.c. of Citibank customers do Internet banking

By Our Special Correspondent

BANGALORE, DEC. 25. Citibank has become the first bank in India to successfuly "migrate" more than 33 per cent of its customers to Internet banking within a span of six months.

Announcing the three digit growth in Internet subscription, Mr. P.S.Jayakumar, Director Sales & Distribution, said: "Getting customers who are used to a particular level of service to switch to a newer channel is not easy. While most banks do have some Net presence, only Citibank has a complete transaction capability."

As part of its Internet strategy, Citibank recently held its "Win While You Bank" contest, which enabled "migration" of more than 62,000 customers to Internet banking. Designed to encourage customers, they were asked to apply for an Internet banking password (Home Personal Identification PIN), log onto CitiDirect with HPIN and write a slogan on CitiDirect.

The contest received 17,000 slogans. The prizes included a Hyundai Accent car, two Compaq laptops, three Kinetic scooters and a range of National Panasonic appliances. There were also 20 daily prizes including Kodak cameras and CDs.

CitiDirect has powerful transaction features that are available in a secured environment. These include account-to-account transfer, issuing drafts to third parties, utility payments, request for credit lines, subscription and redemption of mutual funds, Demat accounts and secured e-shopping facilities. CitiDirect is the only fully functional credit cards transactional site in India now. Another feature is that it offers both resident and NRI customers "a single glance statement" that enables a customer to get full information on all his or her banking relationships, and thus, view in totality one's assets and liabilities with the bank.

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Section  : Southern States
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