Citigroup has introduced two new AI-driven advisory platforms in its wealth management division, marking another step in the bank’s broader digital transformation. The announcement, made Monday, highlights the deployment of AskWealth, a generative AI assistant, and Advisor Insights, a machine learning-powered markets update dashboard currently in pilot. Both platforms were developed internally by Citi’s data, analytics and innovation, wealth technology, and platform and experience teams.
The new AskWealth assistant is designed to provide advisory teams with quick access to market research and insights, helping them respond to client questions more efficiently. Its companion platform, Advisor Insights, gives wealth professionals real-time market updates through a dynamic dashboard. Together, they aim to enhance productivity while improving the quality of client engagement.
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“These platforms will save hours of time for our advisors, bankers and service teams while reinforcing for clients the personal and high-touch experience that is a tradition at our firm,” said Joe Bonanno, Head of Data, Analytics and Innovation at Citi. He added that AI will not only streamline processes but also ensure clients continue receiving personalized service.
The launch reflects a growing trend across the financial services sector, where banks are moving quickly to deploy AI solutions. Many institutions, including Citi, have already reported significant productivity gains from AI in areas such as software development, knowledge management, and front-office operations.
Citi’s latest AI platforms were developed from concept to full production in just six months, according to Bonanno. AskWealth currently runs on Meta’s Llama large language model but will transition to Google’s Gemini suite in the coming months. Generative AI capabilities will also be integrated into Advisor Insights, with plans to use a large language model backbone to enhance personalization and intelligence.
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The initiatives are part of Citi’s multiyear modernization strategy, which CEO Jane Fraser said was necessary after “decades of underinvestment in large parts of Citi’s infrastructure,” during a July 2024 earnings call. The urgency for modernization intensified after the bank paid $135.6 million in regulatory fines last year for data quality deficiencies first flagged in 2020.
Despite some setbacks, Citi’s tech transformation is picking up speed. Earlier this year, CEO Jane Fraser shared that 30,000 of the bank’s developers were already using AI-powered coding tools, as part of a multi-billion dollar investment in innovation. In June, Citi also introduced new AI tools like Citi Stylus, which helps analyze documents, and Citi Assist, a smart knowledge management assistant.
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Looking ahead, Citi sees vast opportunities to embed generative AI across multiple business lines. “We see opportunities to expand Gen AI across other areas of the firm such as fraud prevention in U.S. Personal Banking, confirmation matching in Markets and more,” the bank’s executive management team noted in a memo. “We’re adopting Gen AI at super speed and partnering with some of the best technology companies in the world to make it happen.”
With these latest platforms, Citi is demonstrating its commitment to blending innovation with customer-centricity, using AI to empower advisors, strengthen client trust, and modernize its global operations at scale.
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