[2007-10-22]  Citi Bank Unveils Online Banking
CITI Bank Uganda has launched the Real Time Gross Settlement (RTGS) and Direct Debits services aimed at reducing transaction and administrative fees for its clients. The online platforms eliminate physical visits to the bank by the customers for any transactions.

They also reduce the need for bulk movement of physical cash, maintenance of post-dated cheques and cut costs on cheque stationery.


"Innovations that improve and consolidate the quality, efficiency, convenience, security and flexibility of RTGS and direct debit payments serve a real purpose," Citi Bank managing director, Shirish Bhide, said at the launch on Friday.

"The launch is a major part of our commitment to ensure that our customers can reach us anywhere, anytime and in any way that they want to do business with us. Now customers inside and outside the country can quickly and easily make real time payments to local beneficiaries and collect from debtors accounts through Citi Direct," Bhide told a cross-section of his corporate clients.

Elliot Mwebya, the central bank's national payment systems secretariat director, lauded Citi Bank for the innovations.

"Bank of Uganda wishes to call upon the public to embrace electronic payment methods. The strategic direction of the global payments industry is towards consistent electronic payment methods," Mwebya said.



Source: Copyright © 2007 New Vision.