Citi is setting up a fintech unit, led by Heather Cox, that will focus on making the US banking giant ready for a "mobile first" future.
The Citi FinTech unit is charged with creating a "radically simple, connected mobile banking solution", which the bank hopes to roll out by the fourth quarter of next year, according to an internal note.
The note, written by global consumer banking chief executive Stephen Bird, and seen by the Wall Street Journal, says: "Making our existing business compatible with a Mobile First future is critical."
The unit will be led by Heather Cox, who joined Citi from Capital One last year as chief client experience, digital and marketing officer.
Jud Linville, global cards chief executive, will take on responsibility for client experience, decision management, digital and marketing.
Cox has been keenly involved in the Citi Mobile Challenge programme, which has seen the bank scour the globe in search of startups with innovative mobile applications.
The importance of the mobile channel to the US' biggest banks has been emphasised by Bank of America CEO and chairman Brian Moynihan, who told an investor presentation earlier this week that the cost of handling transactions was 90% cheaper via mobile than through the branch.