On Tuesday, banking giant Citi announced the launch of its new beta-testing customer community, Canvas Designed by Citi, which promotes financial wellness. According to Citi, the new community enables customers to co-create products and digital capabilities that promote their financial wellness. It will use data across a customer’s full financial relationships to design and deliver insights and solutions that improve financial wellness. While sharing more details about the new community, Yolande Piazza, CEO of Citi FinTech, stated:
“The customer is at the heart of everything we do and Canvas takes co-creation to the next level. This new beta-testing community is a platform for customers to test live solutions in real-world conditions that improve their financial wellness. 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.”
Citi reported that through this new beta-testing community, customers simply register to access and test solutions. The 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. New tests will be released on a regular basis, and registered community members who are selected to participate will be notified. Carey Kolaja, Global Chief Product Officer of Citi FinTech, also commented:
“This beta community is among the first of its kind to be launched by a bank and we are excited to add Canvas to our customer co-creation and open banking programs. 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.”
The Canvas beta-testing community is now open to Citi customers.