Citibank’s E-Business Strategy
Citibank afflicted its all-around action in 2000 because of stiffer antagonism and the dot com boom. However, their accepted E-business action is –Connect, transform and Extend (CABC, 2002). The amount action of the coffer is to action a distinct web-enabled belvedere to all of its customers. In this cardboard we will altercate how Citibank’s barter and banknote accumulation can advance altered e-business articles for altered industries. Similarly, we will altercate how Citibank can analyze what it can action back the bazaar is alteration rapidly. (1) In adjustment to baby altered industries Citibank can action customized articles to its customers.
The coffer charge analyze the needs of the chump and again ambition them in an able and an able way. The banknote and the barter accumulation charge amount the charge of paperless ambiance and they charge focus on developing an able e-business action that can account the barter in the abbreviate and the continued run. Articles like CitiDirect can account the accumulated barter because they can accomplish online payments and can accomplish affairs anywhere in the world. This artefact has centralized the cyberbanking ambiance and barter all over the apple can alike and acquaintance anniversary alternative through an online medium.
Similarly, articles like analysis outsourcing systems can be developed by the coffer (CABC, 2002). Through (COS) analysis outsourcing arrangement accumulated barter can abode their payments online and the coffer can accomplish operations by auctioning the checks to appointed customers. Barter accumulation can advance e-business articles like accident acknowledgment and belletrist of credits. Similarly, banknote administration accumulation can advance articles like online accounting services, online payable and online banknote management. All the articles that are developed charge be customized and they charge baby the needs of the accumulated customers.
(2) Citibank can analyze the alteration trends of the bazaar by anecdotic the needs of the customers. As anon as the needs are articular again the coffer can ambition their needs through articles that can advice them in this alteration environment. The absolute ambiance is changing, barter are acceptable difficult to handle because their demands are increasing. Similarly, antagonism is accepting stiffer and stiffer and new entrants are entering the cyberbanking arena. The B2B ambiance is added decumbent to internet and because of aegis issues this ambiance is alteration too.
These factors are absolutely axiomatic in anecdotic what articles and casework can Citibank action to their customers. The internet plays a above role in anecdotic the absolute needs of the customers. Through emails and online forums Citibank can analyze what their barter appetite and how can they body a able e-business action to baby the needs of these customers. Surveys and questionnaires can additionally be an afflicted action in anecdotic what are the needs of the chump and what can Citibank action in the rapidly alteration environment.
After the identification appearance of the alteration ambiance Citibank can action amount added casework to its customers. Chump accord administration casework can be offered to the barter and they can advice themselves through the able use of these services. Citibank has responded in a proactive way in this alteration ambiance and they accept developed e-projects which includes projects that are accompanying to bogus intelligence (CABC, 2002). List of
CABC (Centre for Asian Business Cases). (06 June 2002). Case: Citibank’s e-Business Action for All-around Accumulated banking. School of Business. The University of Hong Kong.
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