investments and partnerships can make a big impact in this regard. Citi is launching a new group to invest in fintech startups. Their main areas of interest span credit markets, which can become a very big industry in the years to come. Banks and other financial service providers need to grow and evolve. Strategic
It is good to see Citi explore new opportunities in the fintech sector. Fintech startups are innovative and unlock new business models previously deemed inaccessible. Citi is looking to make strategic investments in this regard. Fintechs associated with credit markets and securitized market operations will be the primary focus, for the time being.
Citi Explores Innovative Startups
This new venture goes by the name of Spread Products Investment Technologies. Not the most innovative or exciting name, but it will get the job done regardless. No fintechs have been identified as investment-worthy at this time. More information is expected to become available in the coming weeks and months.
For the fintech industry, this is more than welcome news. Over the past year and a half, numerous banks have begun showing an interest in fintech startups all over the world. This is very different compared to the years prior, when financial institutions looked at these young companies as a nuisance first and foremost.
Collaboration is pertinent in the financial industry these days. Consumers have very different expectations and demands compared tot he years prior. As such, it is only normal banks feel as if they are out of their league. Exploring new opportunities is an absolute must in this regard.