Citi AI Cuts Account Opening Times by 1 Hour

Citigroup using AI to speed account openings

Citigroup is deploying artificial intelligence to shorten account-opening times and help phase out older software, its technology head Tim Ryan told Reuters. “We still have legacy systems, but after the tech investments we’ve made, we are in a much better place,” Ryan ⁠said in an interview to Reuters. “AI helps migrate data from legacy systems, automate coding and test more and faster.” Ryan said AI is also being used to streamline client onboar…

Citi AI Cuts Account Opening Times by 1 Hour

Citigroup has identified an initial 50 processes that it aims to automate, and the bank is already seeing results from those it has transformed, Reuters reported Wednesday (April 8), citing its interview with Citi Head of Technology and Business Enablement Tim Ryan. The bank’s initial focus includes processes such as client and employee onboarding, and some know your customer (KYC) processes, according to the report. It is already usin…

Citigroup says AI helps speed account openings and systems upgrades

Pushes to improve productivity.