Citi's Treasury and Trade Solutions has expanded its Electronic Bank Account Management (eBAM) service footprint to 55 countries. This is up from 33 last September 2012, which shows how hard it is to role out eBAM. There is so much to do before a branch/country is enabled, and this is just in Citi.
Citi eBAM is currently available across North America, Europe, Middle-East, Africa and the Asia Pacific regions. This expanded global footprint delivers increased risk management benefits to corporate treasurers and shows how committed Citi is to pioneering eBAM.
Citi eBAM provides clients with the flexibility to manage their accounts around the world electronically. Since launching eBAM in 2009, Citi has focused on the importance of digital innovation and technology by continuously enhancing and expanding the service - which is available via CitiDirect BESM, Citi's electronic banking platform - to bring new capabilities and features to its clients.
The Citi eBAM solution allows clients to electronically create and track requests for maintenance, account openings and signatory management of their Citi accounts. By making this information available digitally, eBAM reduces the amount of paper documentation and duplication of communications required to implement changes in addition to increasing efficiency, driving productivity and reducing operational risk. By connecting clients directly to Citi's backend processes, eBAM enables self-service of the account administration process and drives productivity, bringing value and ease of use to clients. Clients can get complete visibility and information on their accounts and signatories at any time. In today's environment of increased regulatory compliance, eBAM enhances the control environment for clients.
Rajesh Mehta commented, "This solution is convenient and easy-to-use for our clients, distinguishing it in the marketplace. eBAM is essential to our digital bank strategy."
Multi-bank eBAM is a long way off, but it is coming. Get sorting out and cleaning up your bank account data, which is the vital first step in moving to eBAM which requires NO garbage.