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Citibanks Cash Management and Trade Citibank understood that all banks offer Services similar services.
o
Offering telephone hotlines Relationship managers who understood clients needs Product consultants who provide service expertise Continous investment in technology
Trade Products
Offered
Product offering covered banking services and financing needs of customers who had import and export trade transactions.
By offering outsourcing Citibank Secured all the businesses from the customer Gained a total relationship with the customer Obtained economies of scale with a large number of customers
Payment Methods
ChequeMost of B2B payments Notes and coins Bankers draftPayment is guaranteed. Credit cards Special presentation of chequesOnly in cases of extreme doubt about customer Transfersfrom a bank account to another
Competition
New technology required major investment in people, risk and technological services and few banks were competing at the global transactions services marketplace. Deutsche Bank and Citibank were two leaders and ABN AMRO was also developing its product range.
1.Empower local, regional and global customers 2.help them take advantage of the efficiencies and opportunities created by ecommerce.
extend
C W H B E r e u m U e b l s a p d e t e d e n c a a u C k b s n n e t e o t m w b c e o a e o r n d r t k g e o a e f s s t b e t h a r e
FinancialSettlement Matrix.com
A Company to connect buyers and sellers in emarketplaces while performing activities such as:
Connect
Customer convenience is important for Citibank Provide clients with various options to access Citibank Internet provides the flexibility to meet this demand
CitiDirect
Designed for corporate customers Customers can perform various transactions on-line Transactions take place in real-time In 8 months, 1000 customers were using it
Transform
Back office activities(loan prcess, cash mgmt) Not at the forefront of a customers mind Traditionally was a function of bank-customer relationship Citibank realized that, this function, required more that 200 data centers, should be commoditized.
Benefits of Regionalisation
Provided continual improvement opportunities Reduced the time cycle for transactions Minimized error rates to near zero Yielded new efficiencies for Citibank and customers
Centralization made it easier to access data through various security systems: e.g. signature verification
Straight-through Automation: by
Continuous improvement Artificial intelligence projects to reduce error rates Real-time, on-line transactions created a certainty for customers
Achievements
First in the financial services industry to receive a quality award Customer surveys favored Citibank in areas of accuracy, timeliness, accessibility and responsiveness Processing became one of Citibanks unique selling propositions
Extend
Building a new global infrastructure gave Citibank the opportunity to: Deliver e-products more quickly and more efficiently Ability to install capability improvements from one regional area to world-wide
Extend
Priority was to move all corporate customers to CitiDirect The greatest concern of most customers was security In 2001 Citibank understood that it must provide old methods too for conservative SMEs and on-line services for MNCs
Conclusion
The Internet changed how institutions made strategic decisions. Customer expectations and needs were increased. Citibank responded by:
Web enabling access points to allow customers connect to Citibank Building a new global infrastructure to deliver products and services on-line Integrating products in new ways
THEEND Thanksforyourpatience.