There's at least one part of finance that Citigroup Inc. hopes doesn't go back to normal: opening accounts.
With corporations around the world forced to shutter offices to stem the spread of the deadly coronavirus, Citigroup has seen those clients flock to its new technology offerings. The firm said on Wednesday that it had opened more than 1,000 corporate accounts digitally during the widespread lockdowns, a 300 percent increase from a year earlier.
"As physical interaction has become an issue and people are generally working from their respective residences, this particular capability became very handy," Naveed Sultan, global head of the bank's treasury and trade solutions business, said in an interview. "We've been at this for quite some time."
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
