CITIBANK ACHIEVES PAPERLESS BANKING WITH DAIDA’S INNOVATIVE SOLUTION
CLIENT BACKGROUND:
Citigroup, headquartered in New York, NY, is a leading financial institution that provides banking, insurance, and investment products and services to over 200 million customers worldwide. Its private banking division, Citibank, delivers a wide array of banking, lending, and investment services to individual consumers and small businesses.
SUMMARY:
Citibank, the private banking division of Citigroup, partnered with Daida to implement a paperless banking solution that eliminates the need for printing and mailing customer statements. By leveraging Daida’s expertise, Citibank streamlined its statement production process, resulting in significant cost savings and improved efficiency.
THE CHALLENGE:
As Citibank’s client base grew, the logistics involved in printing and mailing large amounts of customer statements became increasingly difficult. The generation of tremendous amounts of paper, followed by the need to bind and mail them to each customer, proved to be a cumbersome and inefficient process.
THE SOLUTION:
Daida’s analysts developed and implemented a paperless banking solution that completely eliminated the need for printing customer statements on paper. The solution enables Citibank to transmit customer data from their data center in Tampa, FL, to their New York facility. Once the data is downloaded onto a dedicated server, Daida immediately creates CDs for Citibank’s customers.
IMPLEMENTATION:
Daida’s solution streamlined Citibank’s statement production process, reducing the time required from 4-5 days to just 24 hours. The elimination of printing and mailing steps significantly improved the efficiency of the entire operation.
RESULTS:
Measurable savings on printing and mailing charges with paperless banking
Significant reduction in clerical processing
Faster statement production, from 4-5 days to just 24 hours
Increased efficiency and streamlined operations
Transform your banking operations with Daida's innovative paperless solutions!
Our experts can help you eliminate inefficiencies, reduce costs, and improve customer service by digitizing your processes. Contact Daida today to learn how we can help you achieve a more streamlined and efficient banking experience for your customers.
