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Citi and Microsoft partner to run ebanking platform on SharePoint

by | Sep 18, 2009

Citi partnered with Microsoft for a SharePoint-based ebanking serviceCiti”s Global Transaction Services just announced that it has partnered with Microsoft to run its next-generation ebanking platform on the Microsoft Office SharePoint Server 2007.

The ebanking platform, CitiDirect BE, will serve Citi”s corporate, financial institution and public sector clients and will also be available for a white-label business model.

By using SharePoint”s enterprise content management solutions and service-oriented architecture (SOA), the platform will feature analytic capabilities, self-service modules – including Citi”s Electronic Bank Account Management – and rich media providing expert insights on current trends and economic news.

The use of SOA has become more common in the financial industry, reported Jim Eckenrode, research executive for banking at TowerGroup.

"Global transaction services business units have been investing heavily in portal technology for the past several years to replace a disjointed, less-than-optimal experience for users with a streamlined, integrated interface that better aligns with corporate client users” workflow," said Eckenrode.

The ebanking platform will be released in phases over the next 18 to 24 months.

A recent survey from Pegasystems and Finextra found that 63 percent of banks are interested in electronic bank account management services for client acquisition and retention.ADNFCR-1861-ID-19362709-ADNFCR