Banking

Citi Launches Customer Co-creation Community

Mark Angus
Written by Mark Angus

Customer co-creation communities are becoming more prevalent with organisations such as Citi unveiling a beta-testing community, called Canvas Designed.

Customer co-creationThe community enables customers to co-create products and digital capabilities that promote their financial wellness. This new beta-testing community will use data across a customer’s full financial relationships to design and deliver insights and solutions that improve financial wellness.

“This new beta-testing community is a platform for customers to test live solutions in real-world conditions that improve their financial wellness,” says Yolande Piazza, CEO of Citi FinTech. “Our goal is to help our customers reach their financial goals by delivering a holistic view of their financial lives right in the palm of their hand.”

Canvas Designed by Citi enables customers to shape the creation process and easily share feedback, supplementing Citi’s existing co-creation programmes which have led to the launch of a series of industry-leading mobile capabilities and customer experience enhancements. Through this new beta-testing community, customers simply register to access and test solutions. Initial tests will focus on helping customers classify and visualize their spending versus their income, and offering advice to help them reach their financial goals.

Customer co-creation

Source: P2P Foundation

New tests will be released on a regular basis, and registered community members who are selected to participate will be notified. Depending on feedback received from the customer co-creation community, solutions may be iterated and retested, discarded, or put into production to be rolled out live to customers. Citi has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions.

“By delivering a comprehensive view of our customers’ financial lives across all their banking relationships, Canvas is designed to empower customers to test, collaborate, and influence the latest Citi ideas benefiting their financial wellness while enabling Citi to continuously test new ideas, partnerships, and business models,” says Carey Kolaja, Global Chief Product Officer, Citi FinTech.

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