Results tagged as "technology"

  • Citi FinTech Meetup Miami: How Financial Technology Can Drive Financial Inclusion

    By Marshall Sitten, Vice President, Communications, Citi Community Development, Jorge Ruiz, Business Development and Digital Banking Head, Citi Latin America April 21, 2015 10:00 AM

    Technology can play a vital role in bringing more people into the financial mainstream. While most may think that’s a greater demand in the developing world, some of America’s largest cities struggle with the financial isolation of huge groups of their populations.

    We see one of the starkest domestic examples in Miami.

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  • Accelerating Technology Innovation

    By Lyron Wharmann, Head of the Technology Innovation Lab, Citi Israel October 15, 2014 04:35 PM

    Consumers' relationships with banks have undergone an evolution. Today, direct banking enables the average customer to keep a distance from the bank branch and conduct a range of activity via the personal computer and smart phone. The rapidly changing business environment and technological trends are continually pushing banks to be innovative and develop new products and solutions.

    Citi's Technology Innovation Lab in Israel was established after we recognized the potential of merging Citi's position in the global financial markets with Israel's innovative, entrepreneurial and fast paced culture. The Innovation lab is further supported by a favorable local startup culture, partly thanks to government support for financial R&D programs. The main objective of the Innovation Lab is to understand and define new needs and opportunities in the financial arena and provide innovative tools for the financial markets.

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  • A Plan to Increase Financial Access with New Technology

    By Bob Annibale, Global Director, Citi Community Development and Citi Microfinance October 01, 2014 02:17 PM

    Technology has increased access to education, healthcare, and instant communication. But it has yet to revolutionize access to financial services for low-income communities. Having adequate financial access not only impacts the economic potential of individuals, but also has an effect on the broader economy.
    Without access to appropriate tools and guidance, people face more difficulties when it comes to developing good credit, saving money, and building a secure financial future. Without such building blocks for economic growth, it is more challenging to buy a home, build a business, or send a child to college.

    This trend also allows costly and predatory alternative financial services, which target African Americans and Hispanics in particular, to thrive. That is why we need simple and responsible products that leverage technology to bring more people into the financial sector, and Citi Microfinance and Community Development are taking steps to change that.

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  • Celebrating Banamex 130 and Reaffirming Citi's Commitment to Mexico

    By Paulo Carreno, Public Affairs Officer, Mexico September 23, 2014 03:50 PM

    This month, Citi CEO Mike Corbat and Manuel Medina-Mora, Co-President of Citi, CEO, Global Consumer Banking and Chairman, Mexico, visited Mexico to meet with President Enrique Peña Nieto, along with Javier Arrigunaga, CEO of Banamex, and announce ambitious investment and credit expansion programs in Mexico for the coming four years.

    As part of this investment package, Citi is designating approximately U.S. $1.5 billion for direct investments in technology and infrastructure. Some $10 billion will fund multiple projects in the energy sector, and $4 billion will be assigned to small and medium enterprises (SMEs) in Mexico.

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  • Reverse Mentoring: A New Perspective at Citi Latin America

    By Montserrat Garrido, Head of Marketing for Treasury and Trade Solutions, Latin America September 19, 2014 12:58 PM

    Last year, I had the great opportunity to participate with a group of colleagues in the "Reverse Mentoring" pilot program, an initiative launched by Citi Latin America that turns undergraduate and graduate university students into mentors for our senior executives for a few months.

    One might wonder why the mentors in this program are students. Traditionally, mentors have more experience than their mentees. However, in a world where technology is constantly evolving, and the Millennial Generation is at the forefront, the traditional mentor/mentee relationship is shifting. It was through this program that I was assigned as a mentee to Gabriel Perez, a young Colombian - and globetrotter - who is studying for his MBA at the University of Miami.

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  • Citi Mobile Challenge

    By Itziar Diez Canedo, Vice President, Digital Strategy, Digital Banking & Business Development, Latin America August 08, 2014 02:44 PM

    The financial technology industry is growing at a very rapid pace with a strong emergence of companies and solutions dedicated to improving people's experience with their banks. Digital-only banks with a simple user-interface, that help users visualize and manage their finances more intuitively on their smartphones are just some examples. This wave of innovation is creating disruption in the banking industry and establishing a new normal for developers of digital financial solutions and how these solutions are built.

    You no longer need to be a bank to develop the "next big thing" in banking. The digital world moves at lightning speed, and barriers to entry for developing an app or a digital solution are lower than ever. It is the designers, coders and engineers who are developing the new financial solutions, and that is precisely the talent we are looking to tap into and collaborate with through the Citi Mobile Challenge competition.

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  • Data Innovation in Latin America

    By Driss Temsamani, Citi Regional Head of Business Intelligence, Analytics & Innovation for Latin America May 20, 2014 01:42 PM

    In today's economy, data is practically as valuable as cash, and at the Citi Latin America Innovation Lab, that is just what we focus on. Home to a team of Data Scientists and Analytics experts, Citi's Innovation Lab in Miami is a Treasury & Trade Solutions Center of Excellence on Big Data. The Lab has developed applications to unlock hidden value from data, allowing clients to generate profits by improving their margins around Transaction Flows.

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  • Sheree Stomberg: My Pivot Point Taught Me to Reframe my Limiting Beliefs

    By Sheree Stomberg, Global Head of Citi Shared Services and the CSC Delivery Network March 14, 2014 04:38 PM

    To celebrate International Women's Day, Sheree Stomberg, Global Head of Citi Shared Services and the Citi Service Center Delivery Network, shares a pivot point that taught her to "Reframe her Limiting Beliefs."

    Back in 2005, I found myself staring into my bathroom mirror while repeating the words "I am grateful for this career setback because...." Trouble was, I couldn't figure out how to finish that sentence. There was not one good thing that could possibly come from being passed up for a significant promotion and being layered. For half an hour, I stood there saying those same words over and over while I racked my brain, trying to generate an opportunity out of this. Finally, the words came to me: "I am SO grateful for this career setback because it's going to take me to new heights. I'm going to break through these barriers and contribute at multiples beyond what this opportunity would have allowed. I will make this the great motivator and propeller in my life."




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  • Why a Bank Should Be in the Business of School Supplies

    By Lilia M. Torres Torres, Puerto Rico Department of Education, Secretary of Administration December 17, 2013 10:57 AM

    Nearly 450,000 students rely on the Puerto Rico Department of Education: From pencils to hearing aids, we are the country's biggest buyer of education equipment. In the past, our purchasing process has been cumbersome, and students often had to wait months for critical supplies.

    The Puerto Rico Department of Education is financially supported by the Central Government of Puerto Rico and the U.S. Government, and spending is monitored and audited by local and federal authorities, who demand transparent, efficient and auditable administration of funds. Working with government officials to create a purchasing card program, Citi provided our school administrators better buying flexibility and offered an easier way for us to track funds. Local vendors are now paid more quickly and students receive materials faster than ever before.

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  • Streetline - Reimagining Parking

    October 21, 2013 12:34 PM

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    Los Angeles County is home to more than 7.4 million registered cars, but only a fraction of that number of parking spaces. Streetline, Inc. has developed a solution: technology that helps people find parking spaces with a free app. But cities need funding to make to help them adopt the program. Recongizing the innovated quality of Streetline's idea, Citi was proud to provide a cash infusion that reduces up-front costs. As a result, Streetline is expanding to cities around the globe.

    To learn more about Streetline's vision, check out: Can Cities Talk?

    Stories on passionate people coming together to bring ideas to life: #ProgressMakers

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