Citigroup is planning to revamp its US branches network that will have less than half the square-footage of a current average branch and equipped with latest technologies.
As part of the changes, the lender will launch compact branches ranging between 600 to 1,200 square feet, comprising three to four full-time staffers.
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This is in stark contrast to the traditional Citigroup branch which are at least double the size at about 2,500 square feet and nine staffers.
The revamped branches will be equipped with new technology, which includes touchscreen walls and online terminals, and fingerprint or voice authentication.
The group is also expected to consider the concept of one-staffer mini branches encompassing 500 square feet.
The new branch plan is scheduled to be tested in Miami starting early in 2015, following which it will be tested in New York and Los Angeles over the next five years.
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By GlobalData
