Tag: citibank

Innovation, Open Finance, Open Source Banking3 Comments

All banks have the same strategy | what happened to the Starbucks strategy?

Colin Henderson

It was refreshing to read this piece, and takes us exactly where innovation in financial services ought to be going – the new (old) grand ideas. Starbucks should start banking | FT What if Starbucks opened an online-only retail bank offering competitive deposit rates and a modest range of loans and mortgages? It could do that by partnering with a finance company such as ING, which has the appropriate banking licences. All it would need to do is install ATM machines in its outlets, which would involve investing some money but would allow it to get more out of its … Continue reading All banks have the same strategy | what happened to the Starbucks strategy?

Uncategorized, US5 Comments

How can a bank with over 2 trillion in assets fail?

Colin Henderson

The headlines surrounding Citi are reminiscent of a wolf pack circling its prey. But how can a bank such as them fail? And how can it go from making a billion dollar offer to purchase Wachovia to failure? Citigroup stock drops to 13-year low, fear grow | Reuters NEW YORK (Reuters) – Citigroup Inc faced a crisis of confidence on Wednesday as investors questioned the survival prospects of the U.S. banking giant, and its shares tumbled 23 percent to a 13-year low. The second-largest U.S. bank by assets has been reeling on concerns that mounting losses from credit cards, mortgages … Continue reading How can a bank with over 2 trillion in assets fail?

AI

Citi to develop a new integrated technology infrastructure

Colin Henderson

Another signal of big [and needed] changes at Citibank. Their old strategy was highly collegial and permissive of disparate groups autonomy and individual projects. That is changing reflecting the obvious that its hard to be customer centric to the external customer, if you are not aligned that way internally. Finextra: Citi hires Lippert to overhaul IT operations Kessinger says Citi is looking to Lippert re-engineer the bank’s creaking IT infrastructure “by developing technology and operational platforms that are robust, agile, and cost effective. His role will involve the design and deployment of globally integrated solutions that are client-centric, and will … Continue reading Citi to develop a new integrated technology infrastructure