Citigroup Inc will officially open a new, high-tech branch in New York City on Thursday, in an effort to woo more business from wealthy, urban customers.

The third-largest U.S. bank has a relatively small retail branch network in this country, with roughly 1000 branches. Rival Bank of America Corp , the largest U.S. consumer bank, has almost six times as many U.S. branches.

Citigroup, which has a much stronger retail presence in Asia, is trying to attract more U.S. consumer business by importing its smart bank branch style from overseas.

The New York branch offers free wireless connections and screens streaming markets information and financial and general news. Customers will be able to reach customer service representatives 24 hours a day through video chat, and can browse information about Citigroup products on interactive video screens.

Manuel Medina-Mora, Citigroup's chief executive officer of consumer banking for the Americas, said in a press release that the new branch reflects our strategy to invest in retail banking, especially in new technology and key urban markets.

Citigroup's new branch is located in New York City's Union Square. The bank said it plans to open similar smart branches in other U.S. cities.

(Reporting by Maria Aspan)

Citigroup