Citi Treasury and Trade Solutions has rolled out paperless processing for Account Opening and Maintenance on accounts in Canada and the US, resulting in faster turnaround times for bank account management requests.

With this new development, Citi’s clients benefit from rapid document exchange, increased transparency and digital document archiving and retrieval.

Paperless processing for account opening and maintenance requests also offers a fully digital bank account management service for clients using Citi’s proprietary online banking platform, eBAM via CitiDirect BE.

eBAM, launched in 2009, is an easy-to-use web interface that helps clients achieve cost efficiencies, drive productivity and reduce operational errors.

New features on eBAM via CitiDirect BE include electronic submission of supporting documentation for account administration and signer management.

eBAM represents the automation of various transactions between banks and their corporate customers such as opening bank accounts, maintaining bank accounts, closing bank accounts and generating reports.

The service is available in 60 countries across Africa, Asia, Europe, Latin America, North America and the Middle-East helping multinational clients meet their evolving treasury needs.

Michael Fossaceca, North America Region Head, Citi Treasury and Trade Solutions, commented, “This is an important milestone in Citi’s digital journey. With these enhancements, our clients will realize greater efficiencies and benefit from a more streamlined onboarding process. We will continue to innovate in this space and increase digital capabilities for our clients’ bank account management needs.”