Citi boosted its third-quarter tech spend to invest in technology talent and digital platform enhancements.

The $2.4 trillion bank first mentioned in June that it would hire 4,000 tech staff to modernize its technologies and continued on its hiring journey in the quarter to “[fill] gaps that we have across the portfolio,” Mark Mason, chief financial officer, said during the bank’s earnings call.

Citi broke out its tech spend, along with digital and mobile usership growth for Q3:

• Technology and communication spend increased 7% year over year to $2.1 billion;
• Reached over 10,000 employees dedicated to transforming the bank’s Global Business Risk and Controls office, including its risk controls, data and finance programs;
• Active digital users grew 8% YoY to 24 million; and
• Active mobile users grew 12% YoY to 17 million.

The bank’s technology spend was dispersed across all areas of the bank “including systems and hiring people,

resulting in our technology-related spend of approximately 16% for the quarter,” Chief Executive Jane Fraser said.

During the quarter, Citi focused on building its teams “for long-term growth opportunities,” Fraser said, noting that in addition to technology hires the bank is also expanding its healthcare and energy teams.

Meanwhile, the bank is also consolidating fragmented technology platforms as part of a long-term project. “Those things take some time to put in place,” Fraser said.

Looking ahead to Q4, Mason said, “[I]n periods of uncertainty and lots of market volatility, our businesses tend to perform well … so we’ll see how the fourth quarter plays out.”

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