Citigroup Inc. Chief Executive Vikram Pandit made time on Thursday for a ribbon-cutting ceremony at a new Citibank in Manhattan's Union Square. That tells you something about the importance his company has assigned to the new location.

But the real significance of the 9,600-square-foot branch is not the collection of bells and whistles that Citi calls its "smart banking technologies." Many of the features, if not already offered by competitors — the Bank of America Corp. branch up the block also has a comfortable lounge and check-scanning ATMs that do not require deposit envelopes — are unlikely to leave much of an impression on customers who regularly encounter these things elsewhere in their lives. Free Wi-Fi? Got it at Starbucks. Flat-panel touch screens? Practically de rigueur for anyone with an iPhone.

Register or login for access to this item and much more

All Bank Investment Consultant content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access