Banking consumers are shifting toward digital banking because of the seamless experience it offers. Digital banking is the automation of traditional banking services via electronic mediums, such as the bank's website or mobile application. With the help of these online services, customers can conduct various day-to-day banking activities like online account opening, bill payments, fund transfers, loan applications, card management, etc., without physically visiting the bank.
Digital banking has revolutionized the concept of banking during and after the pandemic with its innovative and convenient features. With lockdowns and social distancing measures during and after the pandemic, we were either unable or unwilling to visit physical bank branches; hence services like contactless banking, online account opening, cashless transactions, and remote customer service have helped banks minimize the risk of virus spread.
In addition, with enhanced security measures, digital banking has provided us with a much more reliable and secure banking option. Digital banking in the UAE has proven to be a convenient and efficient alternative to traditional banking that allows consumers to conduct banking transactions without the barriers of location and time.
According to recent research by McKinsey, over 80% of urban consumers in the UAE and KSA1 now prefer to utilize computers, smartphones, and tablets to carry out their banking activities. Another study conducted by CACI Consultancy suggests that by 2020, the frequency of using mobile apps and digital banking will be ten times higher than visiting a physical branch. Furthermore, the latest security features of digital banking enable us to use biometric authentication, such as fingerprints, to log in, ensuring our records are appropriately protected.
Benefits of Opting for Digital Banking Services at Citibank
Opting for digital banking services at Citibank UAE provides numerous benefits to consumers, including:
- Convenience to access accounts and perform transactions from anywhere, anytime, using the Citibank website or app.
- Ease of conducting banking activities like ordering a checkbook, requesting account statements by mail, or adding payees via Citibank Online.
- Multi-layered security protocols to ensure the safety of consumer data.
- Exclusive personalized deals and offers for customers via the Citi Mobile App.
Time saved is money made. Discover the convenience of self-service digital banking. Now that you know the benefits, you can do more important things.
What Citibank Offers As Digital Banking Services
Citibank provides a comprehensive suite of digital banking services to customers in the UAE to help them meet their financial needs. Here are some online banking services offered by Citibank in the UAE:
- Citi Alerts: A service through which Citibank provides real-time notifications to customers about their account activities via email or SMS.
- E-Statements: An electronic statement service by Citibank that offers customers a paperless and convenient way of receiving their account statements.
- Funds Transfer: A digital banking service by Citibank that enables customers to instantly transfer money anywhere in the world or pay their utility bills.
- Rewards Redemption: Another digital banking service by Citibank that enables customers to redeem reward points accumulated through their transactions via Citi credit cards.
- FX-Order Watch: An online service by Citibank that allows customers to set their preferred exchange rates in advance and execute the exchange when FX rates reach the desired level.
- Utility Bill Payments: An online facility by Citibank that allows customers to pay their utility bills through their Citi Credit Cards. With Citi's recent collaboration with Etisalat, Du, Salik, DEWA, and SEWA, customers can pay their utility bills instantly via Citibank Online and Citi Mobile App.
Digital Banking With Citi Mobile App
The Citi Mobile app provides customers the convenience of carrying out their desired banking activities at their fingertips. This mobile application by Citi is simple and easy to navigate and allows customers to transfer funds, pay bills, locate offers, and many other benefits. Let us have a look at some of the exciting features of the Citi Mobile App:
- Overview of all accounts-related activities in one place
- Ease of managing Citi cards and carrying out activities like card activation, PIN reset, etc.
- Notifications about banking activities conducted by the customer.
- Secured authentication for all transactions.
- Open mutual fund and security brokerage accounts.
- Overseas fund transfer in up to sixty-two currencies.
- Update Emirates ID, personal information, and W8Ben form directly via the mobile app.
- Access to services like Citi Pay With Points, Citi World Privileges, and Citi PayAll.
That said, branches will continue to play an important role, for more complex transactions such as loan and credit card applications.
Secure Your Bank Account Digitally
If you are a customer of Citibank UAE and hold a debit or credit Card along with a valid online username and password, you are set! However, if you have not yet registered, visit Citibank Online. Alternatively, you can do it on the Citi UAE Mobile App as well. Download the app now! www.citibank.ae/uae/citimobiledownload/, when you have it, click on "Register" button to get started.
With great power comes great responsibility. Borrowing that adage, the same power can be used by the wrong hands. Hence, a few things to watch out for:
- Enable 2-Factor authentication (i.e. a combination of password and SMS). Use biometrics (fingerprint, voice, image recognition) and keep a strong alphanumeric password that's different from other apps or services you use. Sorry, 123pass does not count. Of course, change it regularly.
- Phishing or smishing (the mobile equivalent) could trick you into visiting 'Citibank-like' sites. Always manually key in the address and look for the green secure padlock (https://www.citibank.ae). If you are unsure, call customer support for assistance.
- Avoid public WiFi hotspots at coffee shops and be wary of sneaky shoulder surfing.
- In case you have lost or misplaced your smartphone, call Citibank and block access or purge data remotely.
- Always download the Citi Mobile app from the official Apple App Store or Google's Android Play Store.
Digital banking by Citibank has revolutionized how we handle our finances, providing a more convenient and efficient banking experience. With just a few clicks on Citi Online or Citi Mobile app via our preferred device, we can manage our accounts, pay bills, transfer funds, and access various banking services from anywhere, anytime. This disruption has transformed banking into a more personalized and user-friendly experience, allowing us to take control of our finances in a way that aligns with our modern and digital lifestyle.