Two key features helped Citibank earn 'Best Bank for High-Net-Worth Families' by Kiplinger's Personal Finance for the third straight year:
This is an excerpt from a story delivered exclusively to Business Insider Intelligence Banking subscribers.Citibank has been named the"Best Bank for High-Net-Worth Families" by Kiplinger's Personal Finance for the third straight year, Yahoo FinanceKiplinger cited an abundance of unique perks — particularly those that come with its Citigold package — as the primary reason for naming Citibank the winner.
While Kiplinger mostly cited services that aren't tech-driven, we think banks can use technology to extend the same level of personalized service high-net-worth clients desire at a greater level of convenience.Using webcams to enable financial advisors to communicate face-to-face with clients could help high-net-worth customers feel the personal connection they would get from an in-person meeting with bank employees.
Enabling clients to handle signing documents electronically could help banks save time and eliminate the hassle for customers. Clients would be able to sign contracts and other documents from anywhere, copies would be simple to make and file, and documents signed digitally get returned immediately to the sender, helping minimize losses or misplacements
For reference, here are some of the specific services that the winner and runner-up furnish for their high-net-worth clientele:For customers who keep at least $200,000 in deposit, retirement, and investment accounts, the bank offers access to its Citigold Package, which bears a variety of perks: reimbursement of out-of-network ATM surcharges in the US and internationally, waived foreign transaction fees on debit card transactions, and access to a relationship manager or financial adviser.
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