Citigroup Inks Partnership Deal With LSEG: A Push for Efficiency?

Citigroup, Inc. C has announced a multi-year strategic partnership with London Stock Exchange Group (“LSEG”) to deploy data, analytics and workflow solutions at an enterprise scale. The partnership bolsters C’s data foundations and supports its broader modernization efforts and enhances the quality and speed of client delivery.

Under the deal, LSEG will provide artificial intelligence (AI)-ready content, multi-asset class data, and workflow solutions spanning economic indicators, pricing and market information, company and reference data, benchmarks and indices, fund and Lipper data, deals data, commodities, news, and risk-intelligence and regulatory data. This curated intelligence will underpin a wide range of activities, empowering C teams with clearer insights and more informed client conversations.

The partnership provides Citigroup with access to LSEG’s end-to-end workflow solutions, anchored by LSEG Workspace and supported by wealth and advisory application programming interfaces and enterprise platforms. Under the multi-year agreement, LSEG’s data and analytics will underpin C’s front-to-back operations across markets, investment banking, wealth, trading, risk, finance and compliance. The partnership also strengthens C’s compliance, KYC and risk management frameworks.

David Livingstone, Citigroup’s Chief Client Officer, stated, “By integrating LSEG’s data and analytics directly into our workflows, we can deliver sharper insights, faster responses, and a more consistent client experience.”

Integrating LSEG’s risk intelligence will enable Citigroup to deliver more consistent, auditable and comprehensive onboarding and monitoring across markets. By consolidating data access and standardizing governance, usage rights and entitlements, the collaboration will enable C to operate at a greater scale, improve efficiency and deliver more consistent, data-driven decision-making across the company.

Citigroup continues to focus on streamlining processes and platforms and driving automation to reduce manual touchpoints. Last year, the bank signed a multi-year agreement with Google Cloud to migrate workloads, deploy AI-driven analytics and strengthen cloud-based operations. It also partnered with Palantir Technologies to transform its wealth platform, using AI and analytics to streamline client onboarding, improve advisor access and enhance overall client experience. Management expects these moves to enable more data-driven decisions while delivering operational efficiencies at scale.

Other Firms' Efforts to Enhance Operational Efficiency

NatWest Group NWG is pursuing a large-scale data and analytics transformation to enhance efficiency and client delivery. In sync with this, NatWest entered a five-year strategic collaboration with AWS and Accenture to modernize its digital, data, analytics and AI capabilities across the bank this year. NatWest aims to consolidate fragmented data streams, enhance analytics-driven customer engagement, streamline onboarding processes, and strengthen risk, fraud and regulatory reporting using higher-quality, standardized data.

Likewise, UBS Group AG UBS has adopted a partnership-led approach to strengthen its data foundations and operational efficiency. This year, UBS Group announced a long-term strategic partnership with LSEG to deploy enterprise-wide data and analytics solutions across asset classes and business franchises. The collaboration is expected to deliver cost synergies, enhance data governance and improve decision-making, while UBS Group benefits from cloud-native and AI-powered analytics to support innovation and more effective client service.

C’s Price Performance & Zacks Rank

Over the past six months, shares of Citigroup have gained 42.3% compared with the industry’s growth of 22%.

Citigroup currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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