Technology

Citi Philippines Launches Online App For Wealthy Clients

Vanessa Doctor Asia Correspondent 21 November 2011

Citi Philippines Launches Online App For Wealthy Clients

Citi Philippines has launched an online application that allows wealth management clients to view their accounts easily, local media report.

Citi Goal Planner, the new service, targets the growing number of emerging affluent Filipinos who have a very active Internet life. The emerging affluent market is the entry level in a wealth continuum that includes the Citigold brand for the affluent. 

Through the application, clients will be able to view their current banking profile and assessment and see if these are in line with their financial goals. After profiling, a Citi representative will get in touch with the potential client to find out if he or she wishes to avail the bank's wealth management. 

"We built this so that clients will see where they are now and how they are going to meet their financial goals. It will provide a risk profile, or the collection of all the banking and investment activities of the client whether it is with Citi or not," said Bernardo Rojas, head of retail banking for Citi Philippines

The emerging affluent market is rapidly growing in the Asia Pacific region, which currently records around 500 million individuals with between $10,000 and $100,000 in investible asets. Citi estimates that about 5 million of these are based in the Philippines. 

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