Some customers reportedly complained about getting locked out of their accounts after signing up for the bank's new Strata Elite credit card. "We feel like we have done the right thing for all of our good customers," Pam Habner, Citi's head of U.S. branded cards, said Tuesday.

Fraser will succeed John Dugan, who's been Citi's chair for six years. The megabank also granted Fraser a one-time award of $25 million in restricted stock units, and more than 1 million stock options.

The megabank's multiyear effort to simplify its business model and improve its risk management is starting to pay off in the form of more consistent profitability and improved returns, CEO Jane Fraser told analysts.

Habner, Head of U.S. Branded Cards and Lending at Citi, sits down with American Banker Editor-in-Chief Chana Schoenberger to discuss the credit card market.

Fintechs and banks are rapidly placing checkout inside apps, e-commerce sites and travel services, standing on the shoulders of a new generation of artificial intelligence and data science to revolutionize customer experience. Some of the bank executives leading the charge spoke with American Banker about the innovation's potential.

Under Habner's leadership, Citi has become the third largest issuer in the U.S. general purpose credit card market.

Citi chief compliance officer Jennifer Taylor leads risk management across 180 markets while championing AI innovation and overseeing complex international divestitures.

Ghiawadwala, who climbed Mount. Kilimanjaro last year, is helping Citi's commercial banking business reach new heights.

Public sector banking doesn't have a line on Citi's income statement. But Monaco's global influence is threaded throughout the bank's work with government finance ministries, central banks and other sovereign entities.

For the fifth consecutive year, Fraser is American Banker's Most Powerful Woman in Banking. The CEO, who is nearing her fifth anniversary in the job, remains keenly focused on generating higher revenues, cutting expenses and closing the profitability gap with peers.

Citigroup's Banamex received an offer that would put full control of the Mexican franchise in the hands of Grupo Mexico.

Jennifer Taylor at Citibank and Jodi Richard at U.S. Bank are driving a rethinking of how to tackle the risks banks face using technology.

Two large companies' announcements that they're laying off thousands of people they've deemed not AI-savvy have drawn mostly negative reactions. 

A memo sent to 175,000 employees gives them 60 days to complete the training.

The bank teamed up with Euronet Worldwide subsidiary Dandelion for cross-border payments to digital wallets in the Philippines, Indonesia, Bangladesh and Colombia in an optionality play.

Citi had been courting wealthy investors to buy a chunk of Banamex that could be built into a controlling stake after a plan to sell the Mexican unit outright fell apart,

Sen's remit spans domestic and cross-border payments, commercial cards, clearing, and payments acceptance.

Bloomberg reports that Citi has enlisted a law firm to look into complaints about Andy Sieg's behavior to current and former colleagues, including former private banking head Ida Liu.

Citigroup's new treasury partnership with Payoneer and JPMorganChase's deposit token are pressuring banks to quickly come up with a "vision," according to payment experts.

Late-payment rates among U.S. borrowers rose again in the second quarter, according to a report from the New York Fed. The trend reflects a sharp increase in student loan delinquencies, which have been climbing as pandemic-era policies have expired.