Citi’s bulked-up tech headcount lends credence to its announcement last June that it intended to hire 4,000 tech employees to move its institutional clients online.
Mason last year said the bank needed to offset “past underinvestment in our businesses.”
That, in itself, marked a reference to Citi’s multiyear effort to address its 2020 consent order from the Office of the Comptroller of the Currency, in which the agency demanded “the thorough redesign” of the bank’s “data architecture, re-engineering of processes, and modernization of system applications and information technology infrastructure that … maximize[s] straight-through processing and minimize[s] manual inputting and adjustments.”
