27 July 2016
Find out more

Citi to open branches modelled on the Apple Store across Europe

26 November 2010  |  12488 views  |  1 citi bank

Citi is planning to open a network of flagship bank branches modelled on the Apple store in key European markets, according to the Financial Times.

The bank would be seeking to slim down and target major cities in France, Britain and Germany, the FT said.

The bank's objective would be to focus its network on about 100 cities around the world, including 10 to 15 in Western Europe, targeting wealthy customers who travel frequently by opening big, flagship outlets modelled on the Apple stores, the paper said.

Over the past few months Citi has been actively rolling out a new generation of 'smart banking' stores across Asia Pacific. The outlet includes state-of-the-art technology, such as interactive touch panels, video-conferencing and a "media wall" - a 4.5 metre by 2.5 metre multi-screen LCD system, displaying the latest weather and financial data, domestic and foreign news.

Citi executives explain the concept at the opening of a new branch in the Shanghai Metro in August.



At a US conference earlier this month, Manuel Medina-Mora, CEO, consumer banking for the Americas at Citi told delegates that the bank plans to invest between $3 billion and $4 billion on its consumer bank to attract more business from wealthy, urban customers.

Medina-Mora told the conference that the bank hopes new technology, particularly in relation to Internet and mobile built on a single platform, will help it attract affluent customers.

Comments: (1)

Felix Kronabetter
Felix Kronabetter - RBR - London | 26 November, 2010, 10:46

Germany? Really? Citi "recently" sold their retail banking unit...

Mit freundlichen Grüssen / Best regards,

Felix Kronabetter
Senior Research Analyst, D-A-CH
Retail Banking Research Ltd
Tel: +44 20 8940 1398 |
felix@rbrlondon.com

 

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Citi to invest in mobile and online to attract affluent customers

Citi to invest in mobile and online to attract affluent customers

17 November 2010  |  12832 views  |  0 comments
Citi launches digital assault on Australian market

Citi launches digital assault on Australian market

27 August 2010  |  10500 views  |  1 comments
Citi to put Egg up for auction - FT

Citi to put Egg up for auction - FT

04 August 2010  |  7660 views  |  0 comments
'New Citi' blog points to corporate makeover

'New Citi' blog points to corporate makeover

22 March 2010  |  8975 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euFind out moreVisit VocaLink.com

Top topics

Most viewed Most shared
satelliteContactless Bitcoin startup Plutus Tap &am...
9465 views comments | 9 tweets | 4 linkedin
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
9371 views 14 comments | 32 tweets | 38 linkedin
Apps crush internet for UK banking loginsApps crush internet for UK banking logins
8156 views comments | 19 tweets | 25 linkedin
Telefonica Germany launches Fidor-backed mobile banking serviceTelefonica Germany launches Fidor-backed m...
6176 views comments | 15 tweets | 19 linkedin
hands typing furiouslyHow machine learning can cut costs on tran...
6024 views 0 | 9 tweets | 3 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job