Citigroup Inc. has leased 10,900 square feet in The Bridge at Cornell Tech. It will become the only bank in the Roosevelt Island building, and Citi employees will engage with Cornell University students, faculty, researchers, startups and other companies, and create closer ties between academia and industry.
The Bridge is a first-of-its-kind building for innovation that brings the Cornell Tech campus together to foster a culture of collaboration and co-creation.
“Bringing together industry leaders like Citi and our pioneering students and faculty focusing on key problems and opportunities of the digital age is part of Cornell Tech’s lifeblood,” said Dan Huttenlocher, Cornell Tech dean. “Collaborations like this one will bring The Bridge and the entire campus to life when we open on Roosevelt Island this fall.”
Citi will tap into the expertise of Cornell Tech students and faculty to work on new capabilities and emerging technologies such as blockchain, machine learning and big-data applications, biometric authentication, the “internet of things” and cybersecurity. Faculty and students will have the opportunity to work with Citi to explore real-world solutions for its clients and customers through product challenges in Cornell Tech’s Product Studio class, where student teams develop digital solutions for companies and nonprofits.
Through efforts such as the Citi Ventures University Partnerships program, Citi teams will engage with Cornell University students in hackathons and design sprints to create, test and incubate new ideas and prototypes with potential to generate growth for Citi.
“Co-locating our teams in The Bridge with companies, entrepreneurs and students will create an inspirational environment for our teams to grow, as well as an energized environment for them to interact with emerging talent,” said Don Callahan, Citi’s head of operations and technology. “As a firm headquartered in New York City, we are excited to be a part of this initiative with Cornell Tech that will develop and strengthen the city’s technology talent and industry.”
At The Bridge, Citi will have 70 to 80 employees are responsible for advancing the bank’s customer banking experience, partnering with startups on technologies and safeguarding clients’ information. Citi employees will move into The Bridge during the first quarter of 2018. The bank’s presence in New York includes 240 locations and about 17,500 employees.