1. INFORMATION TECHNOLOGY
in
ACTION
Presented to
Prof. Ramesh K.
Presented by
Mr. Sanjay Jha (I-15-18-8)
Mr. Amey Mahadik (I-15-18-10)
Mr. Vipul More (I-15-18-13)
Mr. Manish Tripathi ( I – 15-18-19)
Mr. Paresh Kadam (I-15-18-23)
Thakur Institute of Management Studies and Research
(Friday, 13 January, 2017)
2. Information Technology: the great equalizer in the
business of going global
Today, technology makes it possible for small companies
to penetrate global markets very quickly and at very low
cost. A recent study found that at least one-third of small-
to medium-sized companies make extensive use of Web
technologies, and those that do have benefitted
significantly, using new Internet-based services to perform
the functions that entire departments once performed for
large corporations.
10. Citi launches Innovation Lab in Singapore
• Underlying its continued commitment to providing
innovative solutions to clients, Citi's Global Transaction
Services (GTS) business has opened the Citi Innovation Lab
in Singapore that comprises a Client Experience Center and
a Client Collaboration Center. The opening marks the first
such Innovation Lab for the bank's institutional clients in
Asia Pacific.
• The Innovation Lab uses new web, mobile, supply chain
and analytics technologies to engage Citi's institutional
clients more innovatively and to create the most effective
solutions and products for them. In the Innovation Lab, Citi
demonstrates its latest transaction banking solutions and
clients can "test drive" them through live demonstrations
with situation analysis and discussions with GTS' product
experts.
11. Top Innovations from Citi Mobile Challenge in Jerusalem,
London, Nairobi and Warsaw
• Citi announced the top innovations from the Citi
Mobile Challenge in Europe, the Middle East and
Africa (EMEA). This global initiative launched in EMEA
in February and invited developers to build solutions
based on Citi's digital platform and present concepts
at events in Jerusalem, London, Nairobi and Warsaw.
• Solutions that will receive a cash award of $25,000
each include "Swave" from Swave, "Umati Supply
Chain Finance Solution" from Umati Capital, "The
Kytabu app" from Kytabu Inc. and "Trade It" from
Trade It.
12. Citi Announces Top Innovations from Global Financial
Technology Challenge
• Citi announced the top innovations from the Citi®
Mobile Challenge U.S., a ground-breaking global
initiative that invites technology developers to
reimagine digital banking and fuel innovation in the
financial industry.
• Solutions that will receive a cash award of $20,000
each include "Citi Wallet for Small Business" from
Team Spydy, "Concierge app" from EPAM, "Mobile
Withdrawal" from Centric-Consulting, "Piggi" from
Critical Mass, "PopMoney on Android Wear" from
Apptivation and "Swift Banking" from Dogtown Media.
13. Citi Announces Top Innovations from Citi Mobile
Challenge Asia Pacific
• Citi announced the top innovations from Citi
Mobile Challenge in Asia Pacific. The global
initiative invited developers to build solutions
based on Citi's digital platform and present
concepts at events across Asia Pacific.
• Solutions that will receive a cash award of
US$25,000 each include InstaPaisa (India), Simply
Wall St (Australia), SmartLoan (Hong Kong), and
WePay (Singapore).
14. Citi Implements Market Data Compliance & Cost Savings Strategy
• Citigroup Inc. and NYSE Technologies, a division of NYSE
Euronext and a leader in market data products and services,
announced today an agreement to embark on a wide-ranging
market data compliance and cost savings strategy. The strategy
includes the use of NYSE Technologies' enhanced product suite,
built on DART technologies, in collaboration with Jordan &
Jordan, a market data management consulting and information
technology services firm, to create a managed service that will
facilitate the reduction of market data administration costs.
• Citi, the first customer for NYSE Technologies' new market data
administration service, will use DART (Data Administration and
Reporting Technologies) on a global basis to implement key
aspects of its market data administration workflow. The service
will include, among other things, direct reporting of entitlements
to exchanges, exchange compliance, and the elimination of
multiple user exchange fees across vendor platforms.
15. Citi uses IBM Watson Technologies
• Citigroup announced it has entered into an agreement
with IBM to explore possible uses for IBM Watson.
Under the agreement, Citi will examine the use of
deep content analysis and evidence based learning
capabilities found in IBM Watson to help advance
customer interactions and improve and simplify the
banking experience.
• Citi is working to be the leading digital bank, providing
customers with the latest technology to enhance and
facilitate service. Citi will evaluate ways that IBM
Watson technologies can help analyze customer needs
and process vast amounts of up-to-the-minute
financial, economic, product and client data.
16. Citi launches Open Ai
• Citi has launched OpenAi, a specialized range of information
delivery and reporting technology to support the delivery of
leading solutions for Citi’s alternative investment clients. OpenAi
will enable alternatives managers around the world to be more
efficient, invest in a more effective manner, and help better
manage operational risk.
• In an environment of expanding regulatory oversight, demand
for greater transparency, increasing competition and operational
complexity, having access to key portfolio data and exposures
across multiple counterparties, fund structures and geographies
is critical.
• Built on an integrated data management model, OpenAi
connects clients’ trading platforms seamlessly to Citi’s processing
systems, third-party providers, prime brokers and market data
sources, and gives them direct access to operational workflow
throughout the service lifecycle. With OpenAi, alternatives
managers have process and data visibility along with
visualization tools to view and customize data online in real time,
and access through mobile devices.
18. Outsourcing deal with Wipro (2008)
• Wipro Technologies, the global IT services business of
Wipro Limited , and Citigroup Inc . , have reached an
agreement for Wipro to acquire Citi Technology
Services Ltd., the India-based captive provider of
information technology services and solutions to Citi
entities worldwide, for an all cash consideration of
approximately $127 million.
• As part of the transaction, Wipro and Citi will sign a
Master Services Agreement for the delivery of
Technology Infrastructure Services and Application
Development and Maintenance (ADM) services for a
period of six years. The agreement provides for the
delivery of at least $500 million in service revenues
over the period of the contract.
19. TCS outsourcing deal
• TCS won the $2.5 billion outsourcing work
in October 2008
• Outsourcing for managing Citigroup’s back
office operations for nine-and-a-half years
• TCS also paid $505 million to Citigroup to
buy its India-based captive business
processing outsourcing arm, Citigroup
Global Services Ltd.
• Citigroup gives more than $200 million in
business annually to TCS
20. Outsourcing deals in pipeline
• TCS, Infosys, Wipro battle it out for
mega Citigroup outsourcing deal
• Contracts will be awarded in March
2018
• The contract will cover the back-office
operations of Citi Group
• The size of deal is expected to be more
than $1 billion for a period of 10 years
22. In 2015 Citi tied for top honors for reaching Forrester's US Online
Banking Benchmark for the most extensive secure website
functionality
Since 2012 Citi has achieved the highest ranking in Forrester's
evaluation of online banking. Highlights include:
Security & Privacy: Comprehensive information with succinct, clear
guidance on identity theft, cyber threats and email spoofs.
Account Management: Quick and easy online banking is vital. Citi
simplifies functionality and provides strong content.
Money Management: Citi's site offers users such valuable financial
tools as expense analysis, monthly budgeting and goal tracking.
Self-Service: Citi provides customers contextual help with common
questions and quick links that vary based on task.
Assisted Service: Most effective in proactively offering human help
online via chat and other touch points.
23. AWARDS OF EXCELLENCE
• Finance Asia Platinum Awards - 20th Anniversary
Best Foreign Bank
Best Foreign Investment Bank
• Finance Asia Country Awards for Achievement 2016
Best Foreign Bank (4th consecutive year)
Best Foreign Investment Bank (nine out of 10 years)
• Readers Digest's 'Trusted Brand' 2016
Citibank India's credit cards - 'Gold'
• The Asset Triple A Asset Servicing, Fund Management and
Investors Awards 2016
Best Sub custodian in India
Business Today 2016 Best Companies to Work for
• Debut at #20
• Businessworld - Best Bank Awards
• Best Foreign Bank (2nd consecutive year)
24. AWARDS OF EXCELLENCE
• Indian Banks Association - 11th Banking Technology Awards 2016
Awarded Best Technology Bank of the Year
Other recognitions:
Best Use of Technology to enhance customer experience
Best Risk Management, Fraud, and Cyber Security Initiatives
Best use of Digital and Channel Technologies
• CIBIL Transunion 2016 Credit Information Conference
Best Data Quality Amongst Foreign Banks (2nd consecutive year)
• ET's Best Brands Survey 2015
Most trusted brand amongst foreign banks (5th consecutive year)
• The Asset Triple A Country Awards 2015
Best Bank - Global (third consecutive year)
Best Corporate and Institutional Bank – Global (12th year)
Best Loan House
Best M&A House
25. AWARDS OF EXCELLENCE
• Dun & Bradstreet & Cedar - India's Top Banks & Banking Awards 2015
Best Foreign Bank – Retail
Best Foreign Bank – Overall
• 2015 World's Best Digital Banks Awards
Best Consumer Digital Bank in India (7th consecutive year)
• Euromoney Awards for Excellence 2015
Best Investment Bank (3rd consecutive year)
Best M&A House
• Finance Asia Country Awards for Achievement 2015
• Best Foreign Bank (3rd consecutive year of top ranking)
• The Asset Triple A Treasury, Trade and Risk Management Awards
2015
Best Service Provider in Risk Management
• FE Best Bank’s Award 2013-14
Best Foreign bank
• Euromoney Private Banking and Wealth Management Survey for 2015
Ranked 1 amongst International Clients
26. Conclusions
• Citibank has identified IT as a key enabler of
innovation in client servicing
• It has outsourced its routine and operational IT needs
to reliable vendors for cost cutting
• It is focusing on developing cutting edge financial
products with the help of IT
• Citibank has made its habit to involve leading IT
players in developing new solutions
• It has created an eco system of developing and
introducing new IT enabled products
• The effect has been greater customer satisfaction and
improved productivity
