Market Overview

Citi Tops J.D. Power Study of Customer Satisfaction with Retail Banking Advice

Share:

No. 1 ranking comes as Citi deploys digital tools and offers to customers nationwide

Citibank ranked the highest among 17 major U.S. banks for customer satisfaction with retail banking advice as customers increasingly seek guidance through digital channels, according to a new study from J.D. Power.

The J.D. Power 2020 U.S. Retail Banking Advice Satisfaction Study predicts that within the next year digital channels will surpass branches as the most commonly used retail banking advice channel for clients who have a bank account. Citi's top ranking comes as the bank rolls out digital financial advice tools and unique offers to serve customers nationwide.

"On behalf of the entire Citibank team, we are extremely proud to receive this extraordinary recognition from J.D. Power," said David Chubak, Head of U.S. Retail Banking at Citi. "This top ranking is a shared achievement across Citibank - from our bankers who day in and out work relentlessly to protect and grow our clients' financial wellbeing, to the teams that design and build the tools and platforms that allow our clients to enjoy such seamless experiences."

During the past 12 months, Citi has introduced a number of new products, tools and digital enhancements for customers, including:

  • Citi Wealth Builder, an easy-to-use, low-cost digital investing platform with professionally managed portfolios that, in a matter of minutes, helps new and existing customers get on track and stay on track to meet their retirement goals
  • Citi Wealth Advisor, a digital wealth planning tool that provides Citigold clients with personalized financial roadmaps designed to grow their wealth.
  • Citi Accelerate, a digital high-yield savings account, and most recently, Citi Elevate, a new high-yield checking account featuring reimbursement of all ATM withdrawal fees charged by other banks and no Citi charges at any ATM. Both are available to customers outside of Citibank's branch footprint
  • New digital lending solutions (Flex Loan and Flex Pay) that offer greater flexibility and convenience to eligible U.S. credit cardmembers
  • Relationship-based offers leveraging proprietary ThankYou and Double Cash rewards across both card and retail products
  • New functionality for the Citi Mobile App® for Android that provides customers a holistic view into their finances1 and a new menu with smart shortcuts to popular tools including FICO Score, Quick Lock, Add a Trip, Bill Pay, Transfer, Check Deposit, Fund Account.

Additionally, Citi continues to invest in the professional development of its financial advisors. Later this year, Citi and the Wharton School of the University of Pennsylvania will mark the fifth anniversary of the Citi Wharton Global Wealth Institute. Since its launch in October 2015, more than 1,000 Citigold wealth advisors have participated in the onsite program. Initially launched in Philadelphia and Beijing, the program has expanded to Mexico City, San Francisco and Cambridge.

J.D. Power ranked Citibank, with a score of 852, the highest among 17 major banks across the U.S in its third-annual study.

About

J.D. Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable J.D. Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, J.D. Power has offices serving North America, Asia Pacific and Europe.

Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.

1 Users must provide Citi with online access to external financial institution accounts they link through the app.

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com