The global financial crisis of 2008 and the resulting aftermath accelerated an urgent need on innovation within the sector. Born out of this, supported by the extensive cooperation of stakeholders within the sector, was the concept of FinTech. Putting together the terms of finance and technology, Fintech has come to represent financial products or services built upon technology. Often referred to by the misnomer ‘disruptive’, FinTech is providing a highly effective alternate to the traditional ways of the industry.
Here to stay. Total global FinTech investment more than doubled in Q2 2017 at USD 8.4 billion, up from USD 3.6 billion in Q1 2017, as per the report, Pulse of Fintech by KPMG. The driving force behind this global interest in this field is the change the internet is bringing to an individual’s relationship with money. This, in the same way altered the interaction with various other experiences, such as reading the newspaper, listening to music, shopping, etc.
As a user of financial services in this FinTech era, you are the biggest winner. Get ready for an even more enriching plethora of offerings, aiding your convenience. The inclusion of technology is bound to enhance your experience in a number of ways in the coming months and years. Be it reduced transaction fees and a higher degree of security on account of the ongoing adoption of Blockchain technology , instantaneous customer care with the use of Chatbots, the incorporation of Artificial Intelligence in investments and enabling of the trade, FinTech is bound to ring in a winning proposition for you.
At Citibank, we pride ourselves in innovation, be it with products and services or enabling a smooth banking experience for you. It is this same drive in innovation that leads us to offer our clientele the latest technology adept products to match your needs. Some of these offerings you can avail of as a Citi customer include:
- Citibank Online. With this you can fulfil your banking needs wherever you are in the world, however you want, available 24 hours a day 365 days a year, giving you complete control over your finances. Be it receiving a consolidated view of your account, instant utility bill payments, generating account statements or accessing a wide range of investment options, Citibank Online offers you the same from the convenience of your home.
- Citi Mobile. Banking on the go, this platform offers a wide array of transactions including checking your bank balance or downloading a statement, making a transfer locally or repatriating funds to your bank account back home, paying off utility bills, besides offering you exclusive offers across dining, shopping and entertainment experiences on usage of your Citi Credit Card.
- E-Brokerage platform. Our online trading platform allows you comfort, convenience and simplicity. This provides you with instant access to capital markets in the US, UK, Japan, Canada, France, Germany and Switzerland.
Content exclusive to Citi by Wealth Monitor. The views expressed here are those of the authors and do not necessarily represent or reflect the views of Citibank UAE.