Citibank Opens Innovative Flagship Branch in Union Square

New Branch Redefines Retail Banking in the U.S. with ‘Smart Banking’ Technology and Differentiated Customer Experience

Citi to be First Annual Corporate Sponsor of Union Square Partnership

NEW YORK--(BUSINESS WIRE)-- At a ribbon-cutting ceremony today, Vikram Pandit, Chief Executive Officer of Citi, Manuel Medina-Mora, Chief Executive Officer of Consumer Banking for the Americas, and Brad Dinsmore, Head of Retail Banking, North America Consumer Banking, announced the opening of Citi’s new flagship branch in New York City. The 9,700 square foot branch is located at 14th Street and Broadway, in the heart of Union Square. Drawing on smart banking technologies pioneered by Citi in Asia, the branch will feature six interactive sales walls and other media walls; enhanced image ATMs; free online access and Wi-Fi for customers; 24/7 access, from the ATM lobby, to customer service experts via video-assist – the first of its kind in the U.S.; and a private seating lounge for Citigold customers, Citi’s premium banking service.

Citi's new flagship branch in New York City's Union Square will redefine retail banking in the U.S. with 'smart banking' technology and differentiated customer experience. Photo Credit: Jay Irani.

The branch also offers a unique level of service with highly-trained staff dedicated to meeting the needs of its retail, small and commercial business, personal wealth management, Citigold and mortgage customers – all in one location. Citi plans to follow this launch with additional flagship branches in other key U.S. markets that will emulate the Union Square experience.

“For nearly 200 years, we have been proud to call New York City home,” said Citi CEO Vikram Pandit. “Citi opened its first branch in Manhattan in 1812 at 55 Wall Street, and today, we are excited to add to that history with our first U.S. flagship branch in Union Square. This branch exemplifies Citi’s priority focus around the world on being a truly cutting-edge, customer-focused bank leveraging the power of our global reach and breadth of expertise for our customers.”

“The new branch reflects our strategy to invest in retail banking with a focus on customer-centric innovations and an eye towards growth in our key markets,” said Medina-Mora. “Drawing on smart banking technologies and best practices developed by Citi in Asia, and located in the heart of New York City, the new flagship branch demonstrates that we are a global bank with deep roots in the communities we serve.”

“We are excited to add our presence to Union Square’s dynamic neighborhood,” Dinsmore remarked. “We hope the new branch will become a center of commerce and the community for the 200,000 New Yorkers and visitors who visit the area each day, allowing us to showcase a truly differentiated level of customer service and deliver the full breadth of products and services that Citi has to offer, in one place.”

New Branch Redefines Retail Banking in the U.S. with Smart Banking Technology and Differentiated Customer Experience

The Union Square branch is an example of Citi’s ongoing strategy to leverage innovations and successes from global markets and deliver them for customers around the world. The bank partnered with renowned architecture and strategic design firm Eight Inc. on its environmental and interface design and technology experience, and with Atmosphere Proximity, Citi’s digital agency of record since 2006, on its digital messaging. Customers have the choice of using state-of-the-art technology, such as interactive sales walls with touch screen functionality and customer service via video-conferencing, or receiving full-service banking from specially trained branch staff.

The new branch will offer:

• Six interactive sales walls which let customers browse information on Citi’s products and services; Enhanced image ATMs that eliminate the need for envelopes when making cash or check deposits;
• Free online access and Wi-Fi for customers;
• 24/7 access, from the ATM lobby, to customer service experts via video-assist - the first of its kind in the U.S.;
• Media walls that allow customers inside the branch and pedestrians on the street to view information about Citi, live market updates, global and domestic news and local weather and time;
• Access to global experts via private two-way video conferencing;
• A private seating lounge for Citigold customers, Citi’s premium banking service;
• An FX window offering eight of the most popular international currencies, day-of and in the branch; and
• Beginning early 2011, regular financial seminars on investing, buying a home, estate planning, retirement planning and more.

Citibank to be First Annual Corporate Sponsor of Union Square Partnership

In demonstrating community support, Citi has signed on to be the first annual sponsor of the Union Square Partnership, the leading advocate for the Union Square community. Union Square Partnership works collaboratively with area residents, businesses, and cultural and academic institutions to ensure the district's continued growth and success. As part of the sponsorship, Citi will support a host of annual festivals and events throughout the year, including Harvest in the Square and Summer in the Square.

“Union Square is home to many firsts in New York City and the nation, and we are thrilled that Citibank chose our district to open this innovative flagship branch,” said Jennifer E. Falk, Executive Director of the Union Square Partnership. “We look forward to working with Citi as our first annual corporate sponsor. This partnership will help enhance the programming and events that make Union Square one of the most vibrant and beloved public spaces in New York.”

In November, Citibank partnered with City Harvest and GrowNYC to encourage Union Square’s Greenmarket shoppers to “Buy a Bag” of extra produce to donate to City Harvest and gave out reusable Citibank tote bags. In total, through participant donations and food rescued at the end of the market, City Harvest collected 5,840 pounds of food and over a thousand dollars to help rescue more food.

About Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6547635&lang=en

Media:
CitiNatalie Riper, 212-793-1401
natalie.riper@citi.com

Source: Citi