Citi Opens 'Bank Of The Future' With Touchscreens In Union Square

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It’s paperless, wireless and is open seven days a week.

CitiBank has just opened its first “innovative flagship branch,” a bank with cool touch screens and video conferencing, in New York’s Union Square. Citi CEO Vikram Pandit and CEO of Consumer Banking for the Americas Manuel Medina-Mora spoke at the event, as well as Brad Dinsmore, Head of Retail Banking and North America Consumer Banking.

The 9,700-square foot branch will be open seven days a week, with 24-hour access to its ATM lobby where customers can video chat with a bank representative. The bank features technology developed by Citi in Asia. Early next year, the branch also plans to offer regular financial seminars on topics like investing, buying a home, estate and retirement planning.

Citi opened a NY branch with cutting edge technology after a similar one was received so well in Hong Kong, Pandit said. Medina-Mora said the opening of this branch is a significant milestone for Citi and it will transform the customer experience.

The new branch is located where the old Virgin MegaStore used to be before closing two years ago. Jennifer Falk, with the Union Square Partnership, said they were worried the retail space wouldn’t be filled because of the tough economic climate. Now Union Square is booming with the new Citi banking branch, New York’s only 24-hour Best Buy and its first Nordstrom Rack.

The bank is open Monday through Friday from 8:30 a.m. to 7 p.m., Saturday from 9 a.m. to 5 p.m. and Sunday from 11 a.m. to 4 p.m.

The bank will be open 24 hours, 7 days a week-- Citi says it's the first U.S. bank to offer this kind of access.

Pandit shows off the power of the golden scissors...

Paper brochures have been replaced with six different interactive touch screens built into the branch walls.

ATMs no longer require envelopes when deposing cash or checks-- one example the branch being completely paperless.

The branch offers free online access and Wi-Fi for customers.

The branch's media walls display information about Citi, the latest financial, global and domestic news and local weather and time. Pretty snazzy.

The tellers don't have windows so they can offer a more personalised, warm, friendly experience.

The branch offers 24/7 live assistance with this video conferencing feature-- Citi says it's the first of its kind in the U.S.

If you think the bank is nice, check out Vikram's Park-side home...

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