- Citigroup (C -3.9%) has opened more than a thousand corporate accounts digitally during the pandemic lockdowns, up 300% from a year earlier, Bloomberg reports, citing an interview with Naveed Sultan, global head of the bank's treasury and trade solution business.
- "As physical interaction has become an issue and people are generally working from their respective residences, this particular capability became very handy," Sultan said.
- In recent years, Citi has reduced the time it takes corporations to open accounts down to two days from several weeks.
- That reliance on digital tools may also give the bank's employees more flexibility in the future through a combination of working from home and in the office.