Description
about e business strategy of Citibank. It covers their strategy connect, transform, extend. The advantages of their strategies are listed.
Citibank's e-Business Strategy
Introduction
? Citi’s Customers
? 70% of profits from Corporate Customers
? Services offered by Citi to its customers
? Transaction services ? cash management and
trade services ? Corporate finance services ? working capital finance, asset based finance and trade finance ? Treasury market services ? hedging and foreign exchange
Challenges
? Pressure on banks to increase profit margins ? Operating Expenses growing ? reduced profitability ? Subprime crisis put additional pressure on banks ? Corporate customers moving towards internet selling ? Customers looking for ways to improve their
traditional payment processes
? Electronic invoicing, automatic application of payments to
accounts receivable, online payment guarantees … ? Multi-currency payment management, payment aggregation by invoice & currency
? Bank to Corporate Connectivity ? MNCs trying to disintermidiate banks
? Banks investing in technology to provide better
products & services
? Deutsche Bank ? Global payment systems
? Regulatory pressures
Citibank’s E-Business Strategy
• Web enabling of core services of the bank
• Reach new markets, new customer and new products
Connect
• Draw the full range of Citibank’s services to deliver integrated solutions
Extend
Transform
‘Connect’
? CitiDirect allowed corporate customers to do full
transactions online anywhere in the world (2000) ? CitiDirect upgraded to CitiDirect Online Banking (2003)
? Facilities offered in emerging markets
? Back offices of 90 countries linked
? New platform developed, Treasury Vision (2006)
? Connect to client’s enterprise resource planning
systems ? Forecast cash management using analytics
‘Transform’
? Transaction processing activities can be
commoditized ? Regionalization
? Consolidation of Data Centers to Singapore ? Resulted in reduction in cycle time, reduced error
rates
? Internalization of the Web
? Promotion of e-workplace
? Automation
? Artificial Intelligence projects ? Usage of History
‘Extend’
? Deliver products and services online globally ? Move all customers into CitiDirect
? Difficulty with SMEs ? Price incentives
Citibank’s Advantage
•Global Reach
•Strong Brand
•Continuous Investment in Technology
THANK YOU
doc_715802626.pptx
about e business strategy of Citibank. It covers their strategy connect, transform, extend. The advantages of their strategies are listed.
Citibank's e-Business Strategy
Introduction
? Citi’s Customers
? 70% of profits from Corporate Customers
? Services offered by Citi to its customers
? Transaction services ? cash management and
trade services ? Corporate finance services ? working capital finance, asset based finance and trade finance ? Treasury market services ? hedging and foreign exchange
Challenges
? Pressure on banks to increase profit margins ? Operating Expenses growing ? reduced profitability ? Subprime crisis put additional pressure on banks ? Corporate customers moving towards internet selling ? Customers looking for ways to improve their
traditional payment processes
? Electronic invoicing, automatic application of payments to
accounts receivable, online payment guarantees … ? Multi-currency payment management, payment aggregation by invoice & currency
? Bank to Corporate Connectivity ? MNCs trying to disintermidiate banks
? Banks investing in technology to provide better
products & services
? Deutsche Bank ? Global payment systems
? Regulatory pressures
Citibank’s E-Business Strategy
• Web enabling of core services of the bank
• Reach new markets, new customer and new products
Connect
• Draw the full range of Citibank’s services to deliver integrated solutions
Extend
Transform
‘Connect’
? CitiDirect allowed corporate customers to do full
transactions online anywhere in the world (2000) ? CitiDirect upgraded to CitiDirect Online Banking (2003)
? Facilities offered in emerging markets
? Back offices of 90 countries linked
? New platform developed, Treasury Vision (2006)
? Connect to client’s enterprise resource planning
systems ? Forecast cash management using analytics
‘Transform’
? Transaction processing activities can be
commoditized ? Regionalization
? Consolidation of Data Centers to Singapore ? Resulted in reduction in cycle time, reduced error
rates
? Internalization of the Web
? Promotion of e-workplace
? Automation
? Artificial Intelligence projects ? Usage of History
‘Extend’
? Deliver products and services online globally ? Move all customers into CitiDirect
? Difficulty with SMEs ? Price incentives
Citibank’s Advantage
•Global Reach
•Strong Brand
•Continuous Investment in Technology
THANK YOU
doc_715802626.pptx