Citi is teaming up with Cornell University, leasing space at the Ivy League school’s engineering campus in order to engage with students and faculty on areas such as blockchain and machine learning.
The bank is taking on 10,900 square feet at Cornell Tech’s New York building, The Bridge, where it will investigate emerging technologies including big data applications, biometric authentication, the Internet of Things, and cyber security.
Starting early next year, between 70 and 80 Citi staffers will move into the site, charged with “advancing the bank’s customer banking experience, partnering with start-ups on innovative technologies and safeguarding clients’ information”.
Faculty and students will get to work with Citi in exploring real-world solutions for the bank’s customers through Cornell Tech’s Product Challenges, where teams work with companies and non-profits to develop new digital ideas.
In addition, through programmes such as the Citi Ventures University Partnerships, Citi teams will engage with Cornell Tech students in activities such as hackathons and design sprints to create, test and incubate new ideas and prototypes.
“Co-locating in The Bridge with companies, entrepreneurs and students will create an energized environment that fosters innovation and enables interaction with a wide range of emerging talent,” says Don Callahan, head, operations and technology, Citi.
Meanwhile, Citi is embarking on a hiring spree for a ‘Smart Automation Centre’ that will be “responsible for partnering with our businesses and functions across Citi to ensure all the elements are in place for the rapid deployment of Robotics and other related technologies”.
The centre is looking for staff in several places around the world, including Tampa, London, Singapore, New York and Budapest.