Merchant Innovation

Citi Worked With Apple And IBM On Bank Enterprise Suite

In the latest attempt at an IBM-Apple product marriage, the two companies on Wednesday (Dec. 10) unveiled IBM MobileFirst, an iOS enterprise app package that, according to a statement issued by the two firms, "bring IBM’s big data and analytics capabilities to iPhone and iPad users in the enterprise." Among that first batch of apps are some developed for banking and the financial market.

That banking suite is called Trusted Advice and the companies said it "allows advisors to access and manage client portfolios, gain insight from powerful predictive analytics—in the client's kitchen or at the local coffee shop, rather than the advisor's office -- with full ability to test recommendations with sophisticated modeling tools all the way to complete, secure transactions."

Citigroup was among about 50 companies that worked with IBM on the app development, according to a story in The New York Times. "One of the banking apps allows bankers visiting small businesses to view client profiles, analyze competitive market data, make personalized recommendations and process loan applications. That kind of intelligent mobile app, said Heather Cox, Citi’s chief client experience and marketing officer, should yield more productive workers and better customer experiences. 'It’s all in evaluation mode,' Cox said, 'but we’re excited by the potential.'"

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NEW PYMNTS STUDY: ACCELERATING THE REAL-TIME PAYMENTS DEMAND CURVE – NOVEMBER 2020

About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

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