KUALA LUMPUR (Feb 8): Citi Malaysia will upgrade four of its existing bank branches to digital branches from March 16, 2017, as part of a branch transformation initiative that will offer clients a suite of digital only self-service channels, comprising intuitive touch screens and high definition media walls.

According to a statement released by Citi today, the branches to be upgraded are located in Cheras, Taipan USJ, Bukit Tengah in Penang, and Durian Tunggal in Malacca.

It also added that the branch transformation initiative will include the closure of the Citi Kuantan branch but clients can continue to bank through online banking and existing relationship management services based in Kuala Lumpur.

The move is in line with the increase in client preference for digital banking services compared with over-the-counter teller services, as to date, more than 40% of Citi's customer base is digitally active.

"In our push to further digitise and support growth, a smarter network that embraces digital makes good business sense as we see more of our clients opting for digital banking. Digital banking has transformed how we serve clients and our priority is delivering a remarkable client experience to our clients wherever they choose to bank." said Citi Malaysia's CEO Lee Lung Nien.

"We are seeing radical new trends and solutions through Fintech. Technology advancement is such that banks will need new agile operating models to stay profitable and competitive. It is about securing leadership and staying ahead. Citi in Malaysia has a solid client base in the affluent and emerging affluent segments. We are rapidly digitising services and launching new products, services and experiences at a pace we've never done before," Lee added.

Citi was the first bank in Malaysia to verify clients through their unique voiceprints, through its launched Voice Biometrics in 2016, which saw a 66% reduction in time spent verifying client details.

The bank has partnered with, among others, Grab, Lazada Group and Expedia Inc in order to become more relevant in the digital ecosystems.

In 2016, it also launched a new Citi Mobile app in Malaysia, allowing clients to register for an online banking account entirely via a mobile app, as well as apply for a credit card, credit card loans, create their own credit card PIN and activate their cards among many other services from their mobile phones.

According to Citi, it currently has 16.9 million consumer banking customers in the region and over one million customers registered for voice biometrics authentication, and it expects this number to grow to three million within the next three years.