Citi announced two new product offerings as they look to build out their digital brand; Citi Flex Loan allows credit card customers to convert their credit lines into a loan with a fixed APR; Citi Accelerate Savings in an online savings account that pays 2.36 percent with no minimum balance; the new products are part of a bigger digital push for Citi who recently launched their own digital only bank; Citi is not looking to grow branches like some of the other top banks but instead capitalize on their card network to grow deposits and their loan book. Source.
