Citigroup
An American multinational investment bank and financial services corporation, and one of the largest financial institutions in the world.
Timeline (last 90 days)
The 30% cut applies only to the technology vendor bill line item, and does not cover other technology budget categories such as servers, cloud services and internal headcount.
Citigroup cut its technology vendor bill by 30% within one year.
Citigroup CEO Jane Fraser publicly stated that 14,000 engineers have started using the AI coding agent Devin.
Release speed for about 100 product refactoring processes at Citigroup improved by 30% to 40%.
Citigroup deployed Devon in about 100 product transformation processes.
Citigroup CEO Jane Fraser said the reduction in the vendor bill "has a long way to go."
Citigroup's 30% cut in vendor costs may prompt other banks to reassess their outsourcing strategies.
With existing review processes unchanged, Citigroup used Devon to compress the coding and rework stages rather than skipping quality control.
After Citigroup introduced the AI coding agent Devon into its internal development process, its technology vendor bill was cut by 30% within a year.
Citigroup's product release speed increased by 30%–40%.
2 more timeline events
All Facts (12)
The 30% cut applies only to the technology vendor bill line item, and does not cover other technology budget categories such as servers, cloud services and internal headcount.
50%UnverifiedRelease speed for about 100 product refactoring processes at Citigroup improved by 30% to 40%.
50%UnverifiedCitigroup cut its technology vendor bill by 30% within one year.
50%UnverifiedCitigroup CEO Jane Fraser publicly stated that 14,000 engineers have started using the AI coding agent Devin.
50%UnverifiedCitigroup deployed Devon in about 100 product transformation processes.
50%UnverifiedCitigroup CEO Jane Fraser said the reduction in the vendor bill "has a long way to go."
50%UnverifiedWith existing review processes unchanged, Citigroup used Devon to compress the coding and rework stages rather than skipping quality control.
50%UnverifiedAfter Citigroup introduced the AI coding agent Devon into its internal development process, its technology vendor bill was cut by 30% within a year.
50%UnverifiedCitigroup's product release speed increased by 30%–40%.
50%UnverifiedCurrently 14,000 Citigroup engineers use Devon in their daily work.
50%UnverifiedDevin's enterprise clients include NVIDIA, Citigroup, Mercedes-Benz, Goldman Sachs, Dell, GE Aerospace, Rivian, the U.S. Army, and the U.S. Navy.
50%UnverifiedCitigroup's 30% cut in vendor costs may prompt other banks to reassess their outsourcing strategies.
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