Citigroup is committing $50 million to buy PPP loans from minority-owned depository institutional; the loan purchase program is in partnership...
John Gerspach, Chief Financial Officer of Citigroup stated at an investor conference they are building the foundation which will support the launch of a national digital consumer bank launch in the next three years; the bank currently has around 700 bank branches which is far fewer than the three biggest banks. Source
Citigroup will provide funding for mortgages which will eventually be securitized and sold; the terms of the deal were not disclosed; LendInvest has continued to grow loan volumes with 2017 volume at 500 million pounds. Source
Citigroup has shrunk its retail banking business over the years, but is now looking to become a national player; they plan to do this by expanding mobile app features to serve new customers wherever they live; the app will include banking, credit card, lending, investment tools and account aggregation; Citigroup has invested three years into their digital plans and also has plans for a roboadvisor within the app Source
According to the Wall Street Journal Goldman Sachs is going after yet another new line of business: corporate treasury services;...
Michael Corbat, CEO of Citigroup was interviewed by Bloomberg at the World Economic Forum; the bank currently spends $8.5 billion...
Citigroup led the $20 million round and the company is now worth $200 million; Citigroup plans to use the startup’s technology which uses natural language processing to improve customer interactions; the software converts audio conversations into text and then uses sentient analysis algorithms to detect questions, and whether it was a positive or negative interaction; it also works to determine bearish and bullish markets for traders. Source
Citigroup’s new robo-advisor will be free for customers who have at least $50,000 in deposits or investments; this is the...
In this week’s PeerIQ Industry Update they cover the continued slowing of the U.S. economy with payrolls and average hourly...
Lenders and credit reporting firms are still working through how to handle the current state of the US consumer; lenders...