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.

Read this next

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

Digital Assets

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.

Digital Assets

Prisma Finance suffers $10 million crypto exploit, attack ongoing

Liquid staking protocol Prisma Finance fell victim to a security exploit on March 28, resulting in nearly $10 million in Prisma mkUSD and wrapped stETH being stolen by hackers.

Digital Assets

Masa and LayerZero: Bridging Blockchains for Data Sovereignty

Masa Network is poised to revolutionize the personal data landscape with its upcoming launch as a cross-chain platform, making it accessible on a variety of blockchains right from the start.

Digital Assets

Big Time Generates over $100M in Revenue since Preseason

Innovative game developer Big Time Studios announces that its highly anticipated free-to-play multiplayer action/MMO RPG Big Time, has generated $100M in revenue. According to the team, players transacted a total volume of over $230M, without selling a single token.

Digital Assets

Centralized exchanges are 10 times more popular than DEXs in Western Europe

Western European traders are found to prefer centralized exchanges over decentralized ones as CEX traffic outpaces DEXs by a factor of ten.

Market News

Stock Market Analysis: Is NVDA Losing Its Leadership?

Since the beginning of the week, the S&P 500 Index (US500) has seen a modest increase of about 0.58%, whereas NVDA’s share price has experienced a decline of approximately 3.8%. This recent divergence raises concerns among Nvidia stock investors — could it signify a loss of NVDA’s market leadership?

Industry News

ESG: Australian regulator wins first greenwashing court case against Vanguard

Vanguard admitted that a notable portion of the securities within both the Index and the Fund did not undergo the promised ESG scrutiny.

<