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Citi to open branches modelled on the Apple Store across Europe

26 November 2010  |  12659 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

 

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