Citibank focusing on new strategy in Vegas

Grace Leong

Tuesday, Aug. 29, 2000 | 11:24 a.m.

Citibank is focusing on a new consumer banking strategy in Las Vegas after quietly closing three experimental branches in Kinko's copy shops here.

The three offices were at Kinko's branches at 4750 W. Sahara Ave., 671 Mall Ring Circle and 7340 W. Lake Mead Blvd.

The three Citibank offices -- dubbed sales and information sites -- opened in July 1998 and closed on Jan. 25 after Citibank's consumer banking strategy changed following its merger with Travelers Group Inc.

The Travelers merger of April 1998 eventually caused the bank to introduce a wider array of financial products and services to customers including a financial needs analysis program called CitiPro.

"The Citibanks in Kinko's offices were too lightly staffed to handle the CitiPro product. These offices were supposed to be sales centers for customers who needed to open accounts," said Mark Rodgers, Citibank spokesman. "But as our consumer banking strategy changed and we became more consumer-centered, (the partnership) was no longer a target for us strategically."

"The CitiPro financial needs analysis looks in detail at a client's financial life and determines if there are better solutions, say, in the client's cash and debt management and investment portfolio," Rodgers said.

The offices were part of a one-year pilot initially planned for expansion through 200 of Kinko's network of 800 stores nationwide, Rodgers said.

Citibank has four regular branches in Las Vegas and a 2,200 worker-call center at 8725 West Sahara Ave.

The call center, which opened in April 1985, processes credit cards, payments and statements and has a telephone customer service center.

Citibank chose to team with Kinko's to expand without building expensive standalone branches, saying the retailer has a strong management team in Las Vegas, attracts small businesses and has a lot of traffic.

There were 11 workers in total at the experimental Citibank branches at Kinko's stores in Las Vegas.

Rodgers said five of the 11 were relocated to other positions at Citibank branches, while the remainder had either accepted compensation packages or were looking for other positions within the bank or elsewhere.