Heather Cox Parts Ways with Citigroup’s Fintech Unit

Heather Cox, the head of Citigroup Inc's financial-technology unit, is reported to be leaving the bank for a position with Texas-based diversified financial services provider, USAA.

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Cox will be USAA's chief technology and digital officer, a newly created role, and she will report to CEO Stuart Parker.

Cox had been head of client experience, digital and Marketing Marketing Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Read this Term in the consumer bank until Stephen Bird, head of Citigroup's consumer bank, tapped her last year to head up a new unit called Citi Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term. The unit has around 75 employees and focuses on mobile banking.

As with many of its counterparts, Citigroup has embraced fintech to attract and retain customers used to performing daily tasks on their smartphones and watches.

The bank has far fewer brick-and-mortar branches than its biggest US competitors, making it especially focused on digital banking.

In a statement today, Bird said Cox had "embraced our vision to become a true mobile business, championed working in new ways to improve speed to market and pursued every avenue to make the experience we deliver simpler, better and faster."

Finance Magnates last reported on Citigroup in July after EM FX specialist Dan Hanson parted ways with the lender. This was a big name to leave Citigroup, which over the past few months has seen the loss of several senior executives.