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E-Business Model of CitiBank

Citibank aimed to build a single web-enabled platform for all customers with similar needs as part of its e-business strategy to enable core services, develop integrated solutions, and reach new markets. Citibank developed strong foundations in corporate banking, financial institutions, government sectors, local corporations, and SMEs by understanding customer needs and providing product consulting and technology support. Citibank faced challenges in providing sophisticated clients with complex multicurrency payment management and aggregations while lowering costs and improving efficiency.

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635 views1 page

E-Business Model of CitiBank

Citibank aimed to build a single web-enabled platform for all customers with similar needs as part of its e-business strategy to enable core services, develop integrated solutions, and reach new markets. Citibank developed strong foundations in corporate banking, financial institutions, government sectors, local corporations, and SMEs by understanding customer needs and providing product consulting and technology support. Citibank faced challenges in providing sophisticated clients with complex multicurrency payment management and aggregations while lowering costs and improving efficiency.

Uploaded by

Knt Nallasamy Gounder
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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Case Analyses- Citi Banks E-Business Strategy For Global Corporate Banking Issues Citibanks e-business strategy (Connect,

transform and extend) was to enable core services, develop integrated solutions and reach new markets. Citibank aimed to build a single web-enabled platform for all customers with similar needs. How could Citibank build flexible and agile e-business product that capture its clients total cash management and trade services needs? How could Citibank use its ebusiness strategy to lower costs and improve efficiency? How could it integrate internet initiative into overall strategy and create sustainable competitive advantage? Analyses Citibank developed a strong foundation for its corporate banking operations, financial institutions, governmental sectors, local corporations and SME by providing understanding clients needs and product consulting. Using technology to provide back-end and front-end support. Three core product which is; Transactional services, corporate finance services and treasury market services. As of now Citibank offered investing option through multiple channels, including automatic orders, branch services and online services so short term investment portfolio reach to maximum amount of convenience and efficiency. Citibank is covering 49 markets with approx US $ 12.5 trillion. Thats why an array of proper help, monitoring, and controlling transaction become essential to mitigate risk and sustain credibility. That can be achieved by optimizing usage of organisation, technology and administration with effective usage of delivery product and services. For sophisticated clients electronic invoicing, automatic application of payments to account receivables, online payment guarantees and non-repudiation of transactions with having complexity of multicurrency payment management and payment aggregations by invoice and currencies is challenge. To achieve its vision Citibank set up an incubator for internet initiatives, banks business units, experimenting on pilot runs, testing between two units with centralisation of Citigroup so utilisation of combine resources will increase duplication and competition would be eliminated. Citibank start managing suppliers and vendors ensuring every stakeholder understands Citibank strengthens their relationship so their stake holders can understand Citibank brand, financial services expertise, global presence, strong customer relationships. Citibank try to respond these challenges by establishing webenabling access points to allow customers to connect seamlessly, building a new global infrastructure to deliver products and services online, integrating products in new ways.

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