Citibank: Enriching Customers' Banking Experience
Established in 1812 in New York, Citibank is the consumer banking division of the financial services multinational Citigroup. It has operations in more than 100 countries worldwide, and has one of the most successful online services divisions with more than 15 million users, winning the 'Best Financial Website' award by IAMAI India Digital Awards in 2012.
Citibank started its operations in India in 1902 in Kolkata. With 42 full service branches and a network of more than 700 ATMs across the country, it is the largest foreign investor in the financial service sector of India. Citibank has several firsts to its credit; it was the first bank to launch a separate platform for wealth management and banking needs of Non Resident Indians, it was also the first bank to launch 24 hour internet and mobile banking services, it introduced the Citibank World Money Card which was the first foreign currency dominated prepaid card and was the first to launch Financial Information Exchange (FIX) protocol which was later adopted by NSE. It has successfully established a number of market intermediaries like depositories, clearing institutions, credit bureau and payment institutions.
Citibank India offers a host of products and services; the most basic being consumer, corporate and investment banking, credit, securities brokerage and wealth management, along with equity brokerage, equities distribution, private banking and private equity (CVCI); to every client- India's top multinational corporations, small and medium size industries, individuals and households. The Citibank's operations are conducted under two major segments: Institutional Clients Group and the Global Consumer Group. Citi Investment Research and Analysis, Citi Private Bank and Citigold Umbrella are part of Citibank's client groups providing the best of consumer banking and wealth management products.
Citibank Customer Care is rated as one of the best in handling customer queries and complaints. Customers can place a service request online, can call on the CitiPhone or the IVRS (Interactive Voice Response System), or can write to the head office of any of the branches for any kind of assistance required. In case of dissatisfaction with the bank's services, customers can register their complaints against Citibank online, on 24 hour helplines, or in any of the branches. In case the query or complaint is not addressed satisfactorily, the customer can bring forth the complaint to the Grievance Officer. The contact details of nodal officers and senior management personnel are easily available on the website. On continual dissatisfactory response from the bank, the customer can escalate the complaint to the Banking Ombudsman for independent review. The policy and code can be perused on the website.
A structured grievance redressal policy helps handle all Citibank Complaints effectively within a time frame of seven working days. The bank aims at providing appropriate solution to every complaint within a maximum of 30 working days. With high standards of customer service and trained staff, Citibank in India is continuing to be among the top financial institutions, being the preferred banker for more than 40,000 small and medium scale companies across the country.