Citi apparently invited Fox News Channel in to view its Innovation Lab yesterday. Although we're a little sad that we weren't invited, we're sharing with you the link to a slide show the network created based on photos of the lab:
http://www.foxnews.com/slideshow/scitech/2010/06/30/citibank-unveils-bank-future/#slide=1According to Fox News, the lab was recently renovated and is located under a bank branch in midtown Manhattan.
The company wants to create banking on the go, letting a customer start a "conversation" with CitiBank at an ATM and pick it up later on a mobile phone that will know where you left off.
In its Innovation Lab, Citi is testing mobile phone wallet concepts that include contactless and peer-to-peer payments, according to the article. It's testing branch design features such as an interactive media wall designed by Apple and an interactive video workstation. The new branch features should start to appear in U.S. branches in two years, the article said.
Citi's Innovation Lab seems very similar to Umpqua Bank's Innovation Lab, which we profiled in February, except that instead of being in subterranean Manhattan, Umpqua's is above-ground in sunny Portland, Oregon. Both are used to test new consumer-oriented technologies the bank may roll out elsewhere.