Citi expands Innovation Labs to London
(12 February 2018 – United Kingdom) Citbank is set to open a new innovation lab in London. The lab will employ 75 people to support the bank's Markets and Securities Services business globally.
The lab will also host the EMEA operations of Citi Ventures, the team in charge of venture capital investing and external partnerships driving innovation, as well as Citi's D10XSM Program, an internal strategic growth model that enables Citi employees to take new business ideas from concept to launch.
“The financial services industry has historically been a large user of technology,” Paco Ybarra, global head of Markets and Securities Services said.
“We have always invested heavily in digital, but what we are seeing now is a step-change in both the investment we dedicate to technology and the pace of the evolution. The addition of London to our network of Global Innovation Labs highlights our commitment to the UK as a strategic hub for innovation”.
Citi established its first Innovation Lab in Dublin in 2009 and has since expanded the network to locations in Israel, Singapore and Mexico, with more than 250 senior technologists globally.
The London lab will undertake rapid research, experimentation and prototyping of next-generation technology with a focus on data science and visualization as well as high-performance computing.
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