US bank Citibank announced the launch of Citi Priority, a new value proposition targeting the emerging affluent, with a digitalized, convenient, simple and efficient banking experience to equip aspirational and financially progressive clients with better control over their wealth and time in order to achieve their future goals.
According to a recent study conducted by Citibank, the emerging affluent mostly use remote channels to manage their finances, with 39 percent stating that they mostly managed their banking account online, while 64 percent of them use online banking at least once a month. The emerging affluent are investment savvy, with 78 percent of them holding or trading one or more investment products in the past 12 months. On average, they traded stock eight times in the past three months.
Citi Priority comes with a wealth of key features that answer the needs of the emerging affluent, including:
- A range of online services and financial tools: Citi Alerts, FX order watching, protection calculator, online market insight which provides Citibank's timely views on the investment markets;
- Products with preferential pricing through digital channels: as low as 0.2 percent brokerage fee for online stock trading, 20 bps discount for online FX trading, 40 percent discount for travel insurance, fee waiver for remittance through digital channels;
- Priority in channel access: dedicated teller counter at selected branches and priority queue at 24-hour CitiPhone Banking;
- Global banking service and support: up to US$5,000 emergency cash, handling fee waiver for overseas ATM withdrawal, cross-border account opening and global view of accounts.
