Globalization trend started in 2002 ,Global Transaction Service was created to integrate Cash ,Trade and Treasury Services and Global securities Services .It offered integrated cash management ,fund services , securities services , trade services and finance to MNC’s , financial institutions and the public sector around the world. Their objective was to help corporate customers gain greater control over financial positions both locally and globally, increase efficiency and reduce costs. With the presence of locally and globally reach, Global Transaction Services had assets and businesses in several countries and regions. Consequently, in the 2006, it already supported 65, 000 clients, cleared an average of 752, 000 securities trades every week and processed more than US$3 trillion in payments daily.
The main focus or goal is to provide corporate customers the most cost effective and secure solutions in technology innovations. Citibank wanted to empower local ,regional and global customers and the business-to-business and business -to-consumer marketplace and provide solutions to help them take advantage of the efficiencies and opportunities created by e-commerce ,therefore , with technology investments ,Citibank announced with the plan to overhaul IT operations included the consolidation of data centers , better use of existing technologies , optimization of global voice and data network ,standardization of its application-development processes ,and vendor consolidation. Besides ,Citibank ‘s Internet-based cash management , electronic bill payment and online statements ,reporting and analytics, securities processing and other capabilities enabled corporate customers to re-engineer processes , manage working capital more effectively , and improve straight-through processing. The high technology of Citibank was to achieve strategic objective with intentions to lower costs and improve efficiency in its investments in IT provided...
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