Citi Looks to Boost Bank Account Holders

Citi is the world’s biggest credit card issuer and boasts over 28 million clients; while the card business is strong, most of their customers hold their bank accounts elsewhere; deposits at the bank decreased $5.4 billion in 2017 and 2018, a time when banks like Goldman Sachs have seen quite a lot of success with their Marcus product; to help boost deposits, the bank is now offering benefits for some cardholders to open a checking accounts with the hope to grow their new digital banking platform which launched last year; the bank is now seeing some early success in their efforts. Source

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