Citibank 2013 Annual Report Download - page 9

Advancing efforts to become the world’s leading digital
bank, in 2013, Citi introduced a number of innovative digital
and mobile products. In Mexico, Citi subsidiary Banamex
introduced iAcepta Mobile, a card reader that can be attached
to an iPhone, iPad or iPod touch device, making Banamex
the first bank in the country to enable clients to use their
debit and credit cards with chips through merchants’ mobile
devices. iAcepta won the retail payments category at The
Banker magazine’s Innovation in Technology and Transaction
Banking Awards 2013. In India, Citi launched a fully integrated
mobile payment solution that allows 320 million credit card
clients to make payments through their debit and credit cards.
In Latin America, the Citi Beneficios app — a digital tool that
gives Citi clients fast and easy access via their mobile devices
to information about discounts and promotions from different
retailers as well as from Citi branches and ATM locations —
launched in 11 countries. Both International Data Group and
PC World en Español recognized Citi Beneficios as Best
Consumer Mobile App in Latin America.
Citi Retail Services provides consumer and commercial
credit card products — both private label and co-branded — to
national and regional retailers and their clients across North
America. In addition, Retail Services delivers retail industry
expertise and insights, including transaction data analytics
and fully integrated marketing and loyalty programs, to help
retailers expand and deepen customer relationships.
The business services 90 million accounts for iconic brands,
including ExxonMobil, The Home Depot, Macy’s, Sears and
Shell. In September 2013, Retail Services announced a new
relationship with Best Buy, one of the world’s largest multi-
channel consumer electronics retailers. The acquisition and
swift conversion of Best Buy’s U.S. credit card portfolio, which
then totaled more than $7 billion in receivables, solidified Citi
Retail Services’ position as a top provider of private label and
co-branded card products to U.S. retailers and their clients.
In 2013, Citi Retail Services also extended its relationship
with RadioShack, Staples and Sunoco; celebrated the 10-year
anniversary of a partnership with The Home Depot and Sears;
and announced a new relationship with Ross-Simons/Sidney
Thomas Jewelers. Purchase sales were $75 billion during the
year, with a loan portfolio totaling $46 billion.
Retail Banking
With branch locations concentrated in urban centers, and
nearly three-quarters of 3,730 branches in emerging markets,
Citibank’s footprint is unique among financial institutions.
Citibank serves a full range of consumer banking needs,
including checking and savings accounts, loans, wealth
management advice and small business services. In 2011,
Citi joined with the Small Business Administration to announce
a three-year commitment to lend $24 billion to America’s
small businesses, and by the end of 2013, Citi had surpassed
that commitment by $2.6 billion.
Citi’s Banamex franchise serves 21 million clients in
Mexico, where the bank has a leading position in retail
banking, consumer credit, corporate and investment
banking, securities brokerage, transaction services, wealth
management, bank insurance, and mutual and pension
funds. In 2013, Global Finance magazine recognized
Banamex as Best Bank, Best Consumer Internet Bank and
Global Consumer Banking
Citi’s Global Client advertising as seen in Miami, Florida: “A Citi client anywhere
is a Citi client everywhere.”
By the end of 2013, Citi surpassed its three-year
commitment with the Small Business Administration
to lend $24 billion to America’s small businesses.
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