Description: This article is mainly about citibank login. Citigroup’s Head of Operations and Technology describes the bank’s efforts to accelerate its digital transition, as well as the importance of having the right talent and agility to pull it off.
I think the biggest risk most banks have is that are they going to be able to move fast enough. A lot of people talk about agile. Agile is a lot more than how our developers think about how to approach an issue.
Agile now is a group coming together of subject matter experts from each walk of life, of someone who is a true developer, but someone who is a product manager who knows how to listen to the customer or the client.
The real test is can they take that, put it together as an idea and bring that story to life. If it’s not right, can they kill it and come up with the next version faster. An example of agility is a piece of work that Stephen Bird, our CEO of our consumer business, has hosted.
We have to be mobile first, we’re doing a lot on mobile, in fact we were early to mobile, but being all-in on mobile is a team that we’ve set up over in Long Island City with about a hundred people that are operating in a very agile way.
It doesn’t look like a bank, it looks much more like a creative team, I’m seeing the speed the curiosity, the execution at levels I’ve never seen before. On the consumer side perhaps the most exciting was how fast we were able to come up, with a product offering for the Apple watch.
I got a phone call on the day the announcement was made between IBM and Apple that they were going to work together, someone asked me from our consumer business saying could we be the first app, financial services app.
We worked with the senior team at Apple with IBM and with Citi, we did it in a hundred and twenty days, it’s not the pure bank down the road across the ocean, it’s going to be oftentimes in the valley or a start-up in Silicon Alley.
I welcome that kind of competition, it makes us stronger and much faster, I think there’s a lot we can learn from them, at the common denominator most of the startups have a chance to visit as they truly have a blank slate.
Because of that, they’re able to take the art of the possible and have it come to market swiftly. It’s going to require fresh thinking. In the last five years, we have rebuilt city, we’ve changed all of the significant platforms globally.
We’ve been able to get dramatic savings as a result, we are on state-of-the-art technology across city and running at optimum cost structure, we have to do that again over the next five years, I would looking back, I would say that some of the success we had today looks very obvious.
Looking forward to the next five years that doesn’t seem that obvious to me. As a culture we’re going to have to become very comfortable, embracing the cloud, our private cloud, our multi-tenant cloud and our public cloud.
We’re going to get comfortable with that in terms of the idea of true automation, we’re going to get comfortable with robotics and machine to machine and true cognitive. The question is how do you apply that within city, the culture, the curiosity of our tech team.
Our operations team is going to be having to look at the opportunity for for change, I will give you one example that I find particularly important, it was around looking at an operations functions accounts payable.
As we looked at it, we realized that’s repeatable work and it’s fairly predictable, so that’s perfect to put a bot on it, as they call them the people who are doing those jobs whether it’s in Budapest or Tampa or Costa Rica.
They would like to be doing jobs with even higher judgment so they can be delivering more value, they can be growing in their career, the third part of the culture we need to change is embracing data.
Data is truly the lifeblood of this organization from my mind, we’re seeing the wealth being created for our clients and our customers by us helping them at all stages of that,so big data is going to be absolutely an area in which we’re going to need more focus and become expert driving values for our clients.
We were able to look at the supply chain for a very large manufacturer and look at every relationship, because we have the data and we have permission to look at it, we could see every aspect of the supply chain down country by country almost by sub supplier.
It is opportunity for synergies, you could look at opportunities for cost-saving, rationalization, you could also look at opportunities for M&A, you could give a different dialogue with the CEO and the CFO.
In my career it was one of the first great examples of where I could see such great complexity presented in an easy interface, so I could see the graphical insights that were there and then turning those into business ideas.
For me it’s a foreshadowing of what’s to come. Talent is such a critical area of focus for us and for me in particular in the technology space. It is one that I spend a lot of time, I probably spent over four hours today on interviewing talent, trying to solicit talent, working with my team on the overall talent.
Below our window is the borough of Manhattan Community College, now it has 27,000 students and most of them from areas without privilege, what we’re finding is within those halls are people who love computer science, they’re from all sorts of countries, it’s a wealth of opportunity.
To compete with startups we’ve got to make it exciting and we’ve got to be purpose based. I haven’t run into one person at a startup who’s there simply to do a job. It’s a passion about building a business that we need to tap into.