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Citibank to launch ‘Citi Priority’, retail banking platform

Hong Kong, China - August 13, 2011: Citibank sign and logo in front of the bank in Mongkok, Hong Kong, with reflection of financial buildings. Citibank is a major international bank.

Mumbai, Sept 24: To cater to the wealth and consumption needs of the growing base, Citibank India today announced the launch of a new retail banking platform ‘Citi Priority’ to cater digital, convenient, simple and efficient banking experience to customers.

According to a study, there is a new section of wealth class emerging globally termed as New Wealth Builders (NWB). This base is made up of doctors, lawyers, accountants, investment advisers and global executives amongst others. The number of NWB households in India is expected to jump by 47.4 percent in 2014 through 2020 to 4.9 million households. Owing to the same, India has been listed as the fifth country in Asia to avail Citi Priority.

As per Kartik Kaushik, Country Business Manager, Global Consumer Bank, Citibank India, “The sweeping trends of urbanization, digitization and globalization are leading to an expansion of a new economy, consisting of India’s thriving start-up base and growing e-commerce industry.” He further added that Global travel and lifestyle are also important to this emerging wealth builder and Citi Priority addresses these demands.

Citi Priority is designed for customers who maintain a relationship value of a minimum Rs. 1.5 million with Citibank. In addition to world-class wealth management services with a unique online financial planning tool and model portfolio, clients receive a Citi Priority world debit card with MasterCard that offers exclusive global rewards and privileges.

Apart from this the clients will also receive Citibank Premier Miles credit card that earns and burns miles across 100 airlines.

A host of Citi Priority Privileges are available with the Citi Priority World Debit Card, including an additional 10 percent discount on Groupon, 15 percent discount on meet and greet assist at airports worldwide, complimentary lounge access at major airport lounges in India and complimentary golf lessons at leading golf courses in the country.