City National Appears to Go on Quarterly IT Release Schedule
City National Bank appears to have adopted a quarterly schedule to update its online and mobile applications.
Russell Goldsmith, the chief executive of City National, made reference to the schedule in an offhand comment during the bank’s quarterly earnings call last week.
Specifically, when Goldsmith spoke about the bank’s physical expansion in New York and San Francisco, he said:
And we’ll also be bringing forward as we seem to do every quarter, new online and mobile capabilities.
A City National official yesterday would not confirm or deny that the bank had adopted a quarterly release schedule. Bank Innovation did not receive a formal response from City National to its query, however.
It appears that if the bank is not on a hard quarterly release schedule, that “seems” to be the bank’s objective. For example, last June City released an update to its iOS mobile app and then in September unveiled a new version of its iPad app. The iOS app will most likely be updated again soon for iOS 7.
That there are at least four “City National Bank” apps in the iTunes app store is another matter entirely.
City National [ticker: CYN] has a market capitalization of about $4 billion and held approximately $29 billion of assets at the end of last quarter.
