Comment on Citigroup to Cut Outsourcing, Hire 2,000 IT Engineers by Rennah

['Narayan Ammachchi', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar', 'Vertical-Align Middle .Wp-Block-Co-Authors-Plus-Avatar Is .Alignleft .Alignright'] Comments for Nearshore Americas 2025-03-20 06:10:08

After decades of outsourcing much of its back-office operations, banking giant Citigroup is shifting gears. “Citi is expanding its internal technology team to improve security, boost revenue, and enhance efficiency,” the company told Reuters. Strengthening risk management and data security is also a key focus. Last year, U.S. regulators fined Citi $136 million for failing to improve data management—a requirement first issued in 2020. Sign up for our Nearshore Americas newsletter:Since then, the bank has faced over $536 million in penalties for governance and risk management lapses.