a. Social & Demographic:
- Commercial cards enabled customers to receive consolidated spend data for all countries within Asia. - Clients can benefit from in consistency in products, delivery, and services. - Only balanced card issuers are able to deliver local-currency and local-language programs to clients worldwide by using its own proprietary systems and customer service operations.
- New technology required major investments in people, risk, and technological services that some banks were not ready to make or had the assets to make happen. -Citibank invested millions of dollars in the infrastructure required to move and monitor cash balances online. - Main focus or goal is to provide corporate customers the most cost effective, cutting- edge, reliable, and secure solutions in technology innovations. - Technology was used as a means to achieve strategic objective for Citibank, with intentions to lower costs and improve efficiency in its investments in IT provided better client services.
- Citibank offers outsourcing services to corporate customers, secures all business transactions from customer, and attempt to gain a loyal relationship. - A large consumer base will provide Citibank with economies of scale (low unit costs). d. Environmental & Geographic:
- Citibank is uniquely positioned to service its customer’s global needs and secure in its expertise, resulting in setting Citibank’s separation from competitors. - Citibank implements the “embedded bank” strategy in emerging markets (build broad customer base, diverse products, community involvement, and recruitments from local population). - In geographic regions outside of the US, Citibank recruits staff and senior... [continues]