{"id":4575,"date":"2022-01-12T04:43:01","date_gmt":"2022-01-12T04:43:01","guid":{"rendered":"http:\/\/egrowonline.com\/?p=4575"},"modified":"2022-01-12T04:43:01","modified_gmt":"2022-01-12T04:43:01","slug":"citi-to-shut-several-mexican-banking-units","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=4575","title":{"rendered":"Citi to Shut Several Mexican Banking Units"},"content":{"rendered":"


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Citi will get out of the consumer, small business and middle market banking operations of Citibanamex to help focus more on other areas, the company announced<\/a> Tuesday (Jan. 11).<\/p>\n

Instead, the release says it will operate a locally licensed Mexican business, which will see a continuation of the operations in Mexico from the last century. The country will remain strong among Citi\u2019s top institutional non-U.S. markets.<\/p>\n

Citi CEO Jane Fraser<\/a> said, \u201cThe decision to exit the consumer, small business and middle-market banking businesses in Mexico is fully aligned with the principles of our strategy refresh \u2014 we\u2019ll be able to direct our resources to opportunities aligned with our core strengths and competitive advantages, focus on businesses that benefit from connectivity to our global network, and we will further simplify our bank.\u201d<\/p>\n

Fraser continued that Mexico has been a \u201cpriority market\u201d for Citi. She added that Mexico is likely to be a \u201cmajor recipient\u201d for investment from around the globe, along with trade flows, and the company is \u201cconfident\u201d about the trajectory.<\/p>\n

\u201cCiti is uniquely positioned to support cross-border capital markets activity and trade flows in and out of Mexico for our institutional clients and we will continue to make material investments in our institutional operations and market-leading hub there,\u201d Fraser said.<\/p>\n

Citi has also been working on a new policy to do away with workers who haven\u2019t gotten COVID-19 vaccines. As of Jan. 7, employees of the bank who have not been vaccinated would have a week to get a shot or they\u2019d be fired.<\/p>\n

Read more: <\/strong>Citigroup to Workers: Get a Shot or Get a New Job<\/a><\/p>\n

Some employees would be eligible for year-end bonuses, although users will have to sign an agreement banning them from seeking legal action against Citi to get the money.<\/p>\n

Around 90% of the bank\u2019s employees have complied so far, with the number still growing.<\/p>\n

Citi was one of the stricter Wall Street financial giants for its vaccine policy \u2014 others like Goldman Sachs and J.P. Morgan have still let employees come to work without vaccines.<\/p>\n

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\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014<\/p>\n

NEW PYMNTS DATA: AUTHENTICATING IDENTITIES IN THE DIGITAL ECONOMY \u2013 DECEMBER 2021<\/span><\/strong><\/p>\n

\"\"\"\"<\/p>\n

About:<\/strong>More than half of U.S. consumers think biometric authentication methods are faster, more convenient and more trustworthy than passwords or PINs \u2014 so why are less than 10% using them? PYMNTS, in collaboration with Mitek, surveyed more than 2,200 consumers to better define this perception versus use gap and identify ways businesses can boost usage.<\/p>\n

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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Citi will get out of the consumer, small business and middle market banking operations of Citibanamex to help focus more on other areas, the company announced Tuesday (Jan. 11). Instead, the release says it will operate a locally licensed Mexican business, which will see a continuation of the operations in Mexico from the last century. […]<\/p>\n","protected":false},"author":1,"featured_media":4576,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[39],"tags":[2671,3445,3447,3446,3448],"class_list":["post-4575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ico","tag-banking","tag-citi","tag-mexican","tag-shut","tag-units"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/01\/citi-mexico-banks-1000x600.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4575"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4575\/revisions"}],"predecessor-version":[{"id":4577,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4575\/revisions\/4577"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/4576"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4575"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}