Citi reinvents itself to stay agile and ahead

HOW does a more-than- 100-year-old bank stay relevant and compete with new age financial services providers and fintechs - technology companies that are in the business of finance?

A proper answer to that question would be a complex management dialogue but a much easier version is the one being followed by Citibank. It is reinventing itself by making its operating model simpler and faster in order to attract, engage and serve its tech-savvy customers.

The bank is tweaking its business model to become essentially mobile and digitally focused to stay relevant in a rapidly digitising world, said Han Kwee Juan, chief executive officer, Citibank Singapore

While globalisation and urbanisation are prevailing trends, digitisation is "by far the most powerful, disruptive force transforming the way we live, work, engage, consume and commu…