Vendors targeting Citigroup will find they are undergoing a major transformation to modernize the bank, simplify operations and concentrate on high growth businesses. Citi expects to spend $11 billion on technology in 2022 i n areas such as digital customer and client distribution, new financial and custody platforms, cloud enablement, data infrastructure, productivity and collaboration tools, and cyber security. Citi is exiting 13 consumer markets across Asia and will significantly scale back in Mexico. They created a division called Personal Banking and Wealth Management (PBWM) as part of their five new interconnected businesses. Citi is on track to become a leaner and flatter firm through their transformation efforts and divestitures. Citi sees digital, cloud and mobile at the core of a simpler, better client experience.
Download the full account profile to learn more about Citi’s business imperatives, technology initiatives, organization and financials and their team.