7/29/2019 E-Business Model of CitiBank

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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 e-

business 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 web-

enabling access points to allow customers to connect seamlessly, building a new global infrastructure to

deliver products and services online, integrating products in new ways.