Citibank Business Strategy

Citibank is the largest international bank and a consumer banking arm when it comes to financial services. Citibank built its own foundation in the year 1852 as a trusted “City Bank of New York”.

Later on, it became the “First National City Bank of New York”.

In the year 2010, Citibank became the 3rd largest bank company in the US based on its total assets. Citibank serves different countries all over the world. It has a retail-banking operation in more than 160 countries and more than half of its offices are located in United States.

Serving people more than a hundred years is enough reason why this bank is being trusted not only in the United States but also globally. Citibank business strategy in banking really allowed the company to achieve great success.

Today, Citibank is heavily investing on technology. The main reason is to provide their valuable customers the most secure, reliable, cutting edge and cost effective solution when it comes to their financial services. Citibank considers technology as their biggest and comparative advantage over other banking companies.

The internet is considered very important and it gives a great effect in the banking sectors. Using technology, it changes the customers’ expectations.

This is mainly the reason why Citibank uses the latest technology in providing their services. The internet opened the best opportunity for them to develop the greatest and effective Citibank business strategy that helped them a lot in offering easier and fast services to their clients.

One of those effective strategies using the power of the internet is the Citibank E-business strategy. This effectively serves people by creating opportunities and efficiencies through E-commerce.

This is Citibank’s main goal. Their vision using E-business strategy is to become the world’s leading enabler of E-business that delivers fast and convenient online transaction anywhere in the world. One of the goals of E-business strategy is to connect with people.

The effective Citibank business strategy online makes people easily connect to the company. To provide their client more channel and access to them, Citibank uses this strategy to achieve it. This also builds a great foundation for their financial services. Using the web, connection between the firm and clients is made easy and fast.

Another good thing about this Citibank business strategy is that it can be used easily. The consolidation of all the data centers inside the country defines regionalization. Centralization of data is done easily. It also provides workflow automation.

This powerful system is a new system that automatically manages easy and fast processing of different transactions.

Actually, the advantages of these regionalized-processing centers are to reduce time cycle transactions, to secure the databases, to reduce error rates and lastly, ensure efficiency for both employees and customers.

The best thing about this is the real time and online processing of useful information for the benefit of the employees and customers. It ensures the comfort of the customers and provides an efficient working experience for the employees.

E-business as a Citibank business strategy builds a global infrastructure that allows the product to be delivered efficiently and quickly.