Head of Technology for Citigroup’s global consumer bank, Gavin Michael, spoke at an industry event about the two driving themes for tech innovation; Innovation needs to directly benefit the customer and impact multiple markets; “When we think about how we spend our money, it’s really about how do we leverage the return on the dollars that we are investing,” Michael said to Business Insider; the bank spends more than $8bn a year on technology with about half goin to maintaining existing systems and the other half going to building new technology. Source.
