Citi announces new global Head of Digital

Karthik Subramanian

Citibank Trade and Treasury Solutions have announced the appointment of Naveed Anwar as the new head of their digital division as part of its global digital strategy across all channels and products.

Citi foresees 30% reduction in employees

Naveed has joined Citi from Capital One where he has been working for the past 6 years since 2015 and he had overseen the API, file, and data platforms at the company. Before that, he has over 20 years of experience working at Paypal, eBay, and Netscape in a variety of roles. He had not only led the technology development in many of these companies but had also been a bridge between the developers and the partners and ensured that new customers do not feel the pinch during integration and the onboarding process is as smooth as possible. At Citi, he will be expected to perform a similar role as the bank would look to expand this division and onboard new and major customers.

He will also be responsible for developing a network and distribution plan for the products and also lead the integration of all the digital products of the bank into a single central ICG access point. This ICG division works across 96 markets around the world and offers a full suite of products services for multinational companies, public sector entities, and ultra-high-net-worth individuals and households.

This hire is likely to be a part of the overall strategy as the bank dumps its legacy systems and moves towards a digital world. The digitalization storm has been sweeping through the financial sector over the last couple of years with all services becoming digital and mobile and the banks need to adapt so that they would be able to keep pace. With increasing competition in the digital space from the myriad of startups that have sprung up over the last few years, it is important that Citi rises to the challenges and moves all its services into the digital world as the users have also started to increasing prefer every financial service to be available either on their laptops or on their mobile. Those financial services firms that adapt to these changes will be able to continue their dominance in the future as well and those that do not risk losing business to the new startups in this space.

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