recentpopularlog in

citigroup

« earlier   
Citigroup CEO says machines could cut thousands of call centre jobs
February 17, 2019 | Financial Times | Laura Noonan and Patrick Jenkins in Dublin.

Citigroup chief executive Mike Corbat has suggested that “tens of thousands” of people working in the US bank’s call centres are likely to be replaced by machines that can “radically change or improve” customers’ experience while cutting costs.

Mr Corbat, who runs America’s fourth-largest bank by assets, made the comments in an interview with the Financial Times in which he also ruled out Citi’s involvement in any wave of US banking consolidation triggered by the $66bn SunTrust-BB&T merger and justified its continued presence in China.

Under pressure to bring its cost base in line with peers, Citi executives have been upfront about the impact of technology on their 209,000-strong global workforce, including last summer’s warning that as many as half of the 20,000 operations staff in its investment bank could be supplanted by machines.

Mr Corbat’s latest comments are the most explicit the company has been on how the $8bn a year Citi spends on technology could transform its vast consumer bank, which serves 100m customers across 19 markets.

“When you think of data, AI [artificial intelligence], raw digitisation of changing processes, we still have.....
artificial_intelligence  automation  call_centres  CEOs  Citigroup  layoffs  job_destruction  job_loss 
february 2019 by jerryking
The World's Most Creative Data Centers
Data centers are facilities used to house computer systems and associated components.
blog  center  citigroup  cyberbunker  data  deltalis  erik  google  infographic  iron  mountain  lakeside  microsoft  pionen  radixcloud  switch  technology  thauvin  weblog  yahoo 
october 2018 by ethauvin
Twitter
Obamas Cabinet picked by CitiGroup owned by AlWaleed.

AlWaleed picked cabinet. Alwaleed arreste…
Obama  CitiGroup  from twitter_favs
november 2017 by Jswindle
Your mortgage documents are fake! - Salon.com
A newly unsealed lawsuit, which banks settled in 2012 for $95 million, actually offers a different reason, providing a key answer to one of the persistent riddles of the financial crisis and its aftermath. The lawsuit states that banks resorted to fake documents because they could not legally establish true ownership of the loans when trying to foreclose.

This reality, which banks did not contest but instead settled out of court, means that tens of millions of mortgages in America still lack a legitimate chain of ownership, with implications far into the future. And if Congress, supported by the Obama administration, goes back to the same housing finance system, with the same corrupt private entities who broke the nation’s private property system back in business packaging mortgages, then shame on all of us.

The 2011 lawsuit was filed in U.S. District Court in both North and South Carolina, by a white-collar fraud specialist named Lynn Szymoniak, on behalf of the federal government, 17 states and three cities. Twenty-eight banks, mortgage servicers and document processing companies are named in the lawsuit, including mega-banks like JPMorgan Chase, Wells Fargo, Citi and Bank of America.
BANK  OF  AMERICA  BANKS  CITIGROUP  EDITOR'S  PICKS  JPMORGAN  CHASE  LAWSUIT  MORTGAGE  CRISIS  FRAUD  WELLS  FARGO  POLITICS  NEWS  BUSINESS  corruption 
may 2017 by Quercki

Copy this bookmark:





to read