Citi Hopes 'Smart Banking' Will be Big in Japan

Picture retail banking branches with interactive media walls, touch screen service browsers and customer interaction via teleconferencing. Citi thinks the idea could be big. In Japan.

In an effort to bring a new style of retail banking to its Japanese customers, Citibank Japan Ltd. on April 12 opened its first two "smart banking" branches in the Tokyo area. The two branches are the first of 10 Citi hopes to open in Japan during the next year, according to a press release.

Citi believes Japan is a key market for investment in innovation, and these new retail banking branches are the first full-service Smart Banking branches in Citi's global network. The concept of Smart Banking, which was created and developed in Japan, is designed around the customer and gives them customized solutions - products, services and information - where, how and when they want them. The concept reflects Citi's priority focus globally on customer-centric innovation.

Among the features are a "Citi Interactive Media Wall," a 2.8 meter by 4.3 meter interactive, touch panel multimedia wall, as well as a "Citi Service Browser," which is a large touch screen device that helps customers obtain relevant Citibank information. Customers can also use machines to open accounts and apply for credit cards, or visit the "Citi Consulting Room" to talk with a Citibank staff member via videoconference.

"We are confident that the opening of our new branches will represent the start of an exciting new way of consumer banking for our customers in Japan," Darren Buckley, Citibank Japan representative director, president and CEO said in the release.