Citi Rolls Out Digital-Only Offering in Hong Kong

The Citi Plusdigital wealth platform was officially rolled out on Monday in Hong Kong, following a pilot launch in December 2020.

Catered to digital natives, Citi Plus offers personalized wealth management information and knowledge kits for clients and introduces gamification to build healthy financial habits and achieve targets responsibly.

Millennials were invited to participate in research and the co-creation process, through which we could better address target clients’ pain points, and help them grow their wealth via the new service, Lawrence Lam, Citibank Hong Kong consumer business manager, said.

The bank said it will launch the platform in other markets in the Asia Pacific region in the future, and is looking to add up to 200,000 clients over the next few years with a target of doubling its base within the next 24 months.

Citi Plus offers stocks, money market funds, as well as an array of mutual funds primarily from ASI, Allianz Global Investors and Franklin Templeton, are offered on the platform.

ASI said the partnership is an important part of the firm’s regional distribution strategy for 2021, according to a statement. We’re excited to play our part in enabling a new generation of digital-native investors to take control of their finances and invest for a better future, Andrew Hendry, ASI head of distribution Asia Pacific, said.