Citi Ventures on the Lookout for Machine Learning Startups in 2018

EXCLUSIVE – Since its launch in 2010, Citi Ventures has focused on investments that are strategic to its parent, the global financial services provider Citigroup. But when your parent company is a bank that spans the world, you can get involved with a lot of things. The portfolio of Citi Ventures, which comprises 35 companies, extends past financial services & technology into data analytics & machine learning, commerce & payments, security & enterprise IT, to marketing & customer experience. Data analytics & machine learning are areas of particular interest, Managing Director & Global Head of Investing Arvind Purushotham told Bank Innovation. "We have not yet seen the full impact of machine learning" in financial services, Purushotham said, and noted that Citi Ventures was looking closely at this area, which will play a major role in many different areas of financial services.