Citi’s Retail Banking Revenues Grow from Digital Strategy

Citi has reduced their branch network by more than 16 percent in the last two years and has plans to continue this trend; the bank has seen their retail banking revenues grow despite less branches as their digital channels have picked up the slack; digital users grew 13 percent and mobile users grew 21 percent as the company looks to expand their digital footprint; “We’re making investments in digital, and growing our franchise through digital rather than the physical footprint,” said CFO John Gerspach on an earnings call; the company has also looked to retool branches by rolling out digital aspects in the branch using computers and iPads. Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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