Gavin Michael, head of technology for Citigroup’s global consumer bank, spoke on Monday at Business Insider’s IGNITION Finance event at the New York Stock Exchange.
Michael outlined themes the bank looks to follow when it comes to spending its $8 billion budget.
Specifically, he said the Citi looks for innovation that directly touches its customer and can be leveraged across several markets.
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Wall Street banks are pouring more money into technology in an effort to ward off leaner, agile competitors.
And with an annual technology budget of roughly $8 billion, Citigroup is one of the biggest investors into technology on the Street.
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.
See more: Citigroup spends $8 billion a year on tech, and it’s finally starting to see a hefty pile of savings from the massive investments
Michael, who was speaking at Business Insider’s Ignition Finance event in New York on Monday, said one area of focus is ensuring that innovations directly benefit the customer.
“What …read more
Source:: Businessinsider – Finance