Citibank India: A Bank Goes Digital

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Singapore– Before Citibank India set up a new ATM, it asked people on Facebook to vote for a location.

“Where would you like to see the next Citibank ATM? Share your vote and stand a chance to win a Rs1000 gift voucher*!” reads the message on Citibank India’s Facebook page.

Since launching its Facebook page four months ago, Citibank India has interacted with clients and prospects on the social network, giving them a voice in business decisions. It now has 230,00 people who “like” Citibank India on Facebook.

“We are a bank that started with a brick-and-mortar presence. If you look at the last five to six years, we have stepped up our digital efforts,” said Monappa Nalyanda, head of digital marketing, Citibank, during SES Singapore. As a result of those efforts, he said, the financial services company is evolving into a digital bank.

For instance, Nalyanda said two times more payments occur online than offline. And more than 50 percent of all customer contacts with Citibank India are digital, according to a report on Bank Systems & Technology.

While Citibank India has developed video for YouTube, Nalyanda said a next step will be to develop its presence on LinkedIn.

This story was first published on ClickZ Asia.