Gavin Michael, head of technology for Citi's global consumer bank, detailed areas of focus for the bank at Business Insider's Ignition conference.
For Gavin Michael, head of technology for Citi's global consumer bank, priorities for the budget — which is evenly split between running the bank and building new tech — boils down to two key themes.Citigroup spends $8 billion a year on tech, and it's finally starting to see a hefty pile of savings from the massive investments
"What we have actively done is started to move the build-the-bank investments to things that are much closer to our clients," he said.Michael cited mobile banking as an area of focus. He used the work Citi has done in China with the popular messaging app WeChat, as an example. Customers can use WeChat for a number of banking transactions, including requesting a credit line increase and getting an instant loan.
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