...provided by the Banks. Various theory and practical aspects were studied in regard to this project. The Project tries to highlight the role of today’s banking style. Various parameters were analyzed to know the current status of the Indian Banking Industry and the various products of the Citibank ACKNOWLEDGEMENT Nobody is born perfect in himself; it is some timely guidance, proper teaching and blessings by well wishers and seniors around us who give me perfection and skills to make myself prepared to walk on the path of success. My project work, which is the first step of mine in the fields of professionalism, has been successfully accomplished, due to co-operative efforts of friends and colleagues together. I would like to pay my sincere gratitude and thanks to those people, who directed me at every step in the project work. I would like to thank our respected director Mr.D D Chaturvedi, who allowed me to undertake this project and provided his valuable guidance in doing. I extend my sincere thank and gratitude to Dr. AMIT GUPTA, internal faculty, MAIMS, for her help and valuable support throughout the term of the project. It was a learning experience to work under his guidance. I would also like to thank the faculty member and staff member of MAIMS for their kind support and help during the project. Citibank A major international bank, is the consumer banking arm of financial services giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First...
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...Financial Services and the Retail Consumer……………...12 Organization, E-Citi and Citi’s Global Consumer Strategy Product Market Segmentation, Cross-selling and International Leverage…………....24 Mobile Phone Basis Citi’s Future Global Retail Banking Strategy…………………..30 Products, Service Support and IT Selection Strategies……………………………….34 6 7 8 Japan, A Microcosm – Synergies, Affiliations and Reach ……………………………….36 Trust Bank, Complementary Services, and Interactive Strategic Benefits……………….55 Summary - Owning the Future of International Retail Banking……………………….…57 Appendix I - Summary Answers to Questions for Citigroup - IRB Strategy & Operations….65 Appendix II - Some Firm and Market Data Tables 1-6…………………………………………………………………………......73 Highlights from Citi’s Assessment of Global Consumer Business 1999 and 1998…..83 Bibliography and References………………………………………………………………….89 Introduction: Objectives of this Benchmarking Study This international retail banking study for Citigroup (CG)1 was completed under a three-year research grant from the Sloan Foundation. The project’s overall purpose has been to examine in a series of case studies how U.S. and Japanese firms who are recognized leaders in using information technology (IT)2 to achieve long-term sustainable advantage have organized and managed this process. While each case is complete in itself, each is part of this larger study.3 This case for a large international bank with extensive global retail banking and financial services capabilities...
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...1 http://online.wsj.com/article/BT-CO-20120405-708286.html * April 5, 2012, 10:23 a.m. ET By Alan Zibel Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--A U.S. bank regulator on Thursday cited Citigroup Inc. (C) for failing to comply with a federal law that requires banks to establish protections against money-laundering but didn't impose a fine. The Office of the Comptroller of the Currency said that Citi's U.S. banking unit showed deficiencies in its compliance with the bank-secrecy act, which requires banks to report on suspicious activities and maintain other protections against money laundering. Citi neither admitted nor denied the regulator's allegations and entered into a consent order with the regulator to fix the problems. Though the regulator didn't issue a fine, it still has the right to do so. The regulator said the bank had numerous weaknesses, including problems identifying and monitoring high-risk customers. In response, Citi said that the bank has "taken significant steps" in developing plans to manage the risk of money-laundering risks. "Because of these actions, many of the issues highlighted in the OCC's order have already been remediated or are in the process of being remediated," the bank said. "Furthermore, we are developing a plan to address the remaining OCC requirements. " -By Alan Zibel, Dow Jones Newswires; 202-862-9263; alan.zibel@dowjones.com 2 http://www.fool.com/investing/general/2010/07/22/citigroup-strengths-weaknesses-opportunities-threa...
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...International Marketing Environment International Marketing Professor Coleen James Brandy Gates July 27, 2012 Role of Government in International Trade The government’s role in international trade is to facilitate the international marketing efforts of local companies which are aimed to target the world market. First, the government can fund and supervise the gathering of considerable market information that is required to determine whether the specific products consumed in those countries are consistent with a state’s comparative advantage. The government can also conduct studies on how rising economic growth in other countries will have considerable implications for local corn, wheat and soy producers which could help the other countries meet their growing feed and vegetable oil demands (Gupta, 2010). The government can also offer international market-matching events to assist the local producers to bring their produce to the international market and interact with the prospective foreign buyers. The government can also carry out multiple sponsored market researches and business discovery surveys on specific agricultural and industrial products. These technical studies will help determine the appropriate marketing strategy as to whether a market niche might be created for a particular product, or whether the local producers could supply a different product with the same high...
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...generous help, commitment and enthusiasm, which have been the major driving force to complete the current paper. However, we should thank every member in the team at first. Everyone in the group tried their best to find sources and materials, finish their own part in time. And thanks to our university and all the teachers who give us academic knowledge and skills. This proposal is mainly finished by ourselves. There must be some mistakes, because of our carelessness and limitation of knowledge. We are sincerely looking for your feedback. Yihai Wang, Marten Moolhuizen, Bryan Rinders, Alrawahi Hemi and Yikun Du 2015.10.20 Enschede Executive Summary The reason why this proposal is made is because of a change in strategies in 1995, the California division of Citibank decided to implement a new performance scorecard to measure a more efficiently performance management of various divisions within the company. The report is based on the analysis of this classic management case about the performance management tool the Citibank introduced into the company, the balance scorecard. The question we came up with after the analysis of the case is; why one of the indicators, customer satisfaction, has different results from the other financial...
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...Newegg.com Relates to online retail of computers and accessories. Organization is currently privately held doing well with unbroken record of success for the last ten years. It has succeeded in capturing a large part of the computer market in the US and Canada. A number of counterfeit Intel processors were sold by the company, seemingly by mistake, but the customers who bought the counterfeit units were given replacement units. The main issues are continued growth of sales in a declining computer market. With the explosive growth of the emerging tablet and smart phone markets this creates new opportunity for newegg. As a privately held company financials are not readily available other than the Forbes figure which lists 2009 sales at $2.1 billion. The website has been successful in selling computers and computer parts. Other than the counterfeit parts, which does not seem to be a reoccurring problem, there do not seem to be any large problems. There have been some personnel problems and HR complaints within the company. Opportunities seem to lay in the emerging products markets of tablets and smart phones. The organization seems to have a complete product line but it is lacking ATT and Apple products. SWOT Large customer base without a lot of complaints, missing some products from ATT and Apple. Emphasize Tables and Smart Phones on website with their own tables instead of Tables being buried in Laptops and Smarts phones being mixed with classic phones. As a...
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...was used to transport gold and other valuables. • Wells Fargo helped establish the Great Overland Mail service continuing to use the stagecoach but also adding steam ship, rail road, pony rider, and telegraph. • From their humble beginnings they expanded from California to the rest of the nation. CORE PRODUCT BANKING MORTGAGE CREDIT INSURANCE INVESTMENTS • • • • • • Online ATM Business Wholesale Government and Institutional • • Home equity Mortgage • • • Debit & consumer credit card • Personal credit management • Auto dealer service Education financial service • Well Fargo insurance Rural community insurance service • • • • • Retail brokerage Wealth management Retirement Norwest equity & venture partners Lowry hill Capital markets VISION “We want to satisfy all our customers’ financial needs and help them succeed financially” MISSION “Our Product: SERVICE. Our value-added: FINANCIAL ADVICE. Our competitive advantage: OUR PEOPLE” EXTERNAL OPPURTUNITIES & THREATS WELLS FARGO OPPURTUNITIES Historically Low Rates • Dividend increased to $0.34 per share • Securities Emerging Markets Acquisitions • Wachovia Acquisition THREATS Competition • • Bank of America Citigroup • The interest rates are down but the unemployment rates are up and so are...
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...serve the West’s demand for faster communication, Henry Wells and William Fargo built a Wells, Fargo & Co. location in 1882 in Portland, Oregon. Portland’s location at the joining of the Willamette and Columbia established it as the shipping center for the Pacific Northwest and an attraction for Wells Fargo’s express business. The California Gold Rush influenced the company to offer banking in buying gold and selling paper bank drafts, which were just as good as gold, with rapid delivery across the United State. This was included with the diverse services the company had already had, such as general forwarding and commissions and freight series, After discovery of gold in the Boise Basin, precious metals came down the Columbia River to Wells Fargo’s banking and examine office in Portland. This caused more offices to open in new cities all over the United States. In 1863 alone, Wells Fargo’s office in Portland handled over 200,000 ounces of gold. A year later, offices were added in Salem and Eugene, along with more express offices in Portland. Wells Fargo’s reputation of trust built in the 1850’s during the boom and bust of the economy. The bank went to great lengths, coming through for customers and providing responsible and swift services. In 1868 the Columbia River froze in the winter and a messenger carried his shipment of valuables by wagon from The Dalles to Portland. These significant acts helped to contribute to the prosperity of Portland and its surrounding cities...
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...limiting bank’s ability to make bets with their own capital. 2) After being all but shut out of the short term debt market crisis, some company are edging back in. 3) Capitals that Europe increase the debt pressure of Germany and France, Dexia’s collapse shows that some measures of financial strength could paint and misleading pictures of how much additional firepower is needed. Oct.13.1) The people’s bankinvestors of China which tightly controls the Yuan’s trading on the mainland ,early Wednesday guided the Yuan lower against the U.S , it is seemed as the fire back of U.S senate approve to drop Yuan’s value in Asian trading. 2) Stock finished with the strong gains amid optimism about plans to recapitalize euro banks. With the gains, the Dow is up 5.6% this month, the fifth- best start to October since 1990. 3) an estimated $10.95 billion was pulled from long-term mutual funds in the last week, according to the investment company institute.as a result taxable funds and tax free funds increased in this week. Oct.14 1) J.P. Morgan stocked new fears about the health of the U.S banking industry as it posted its first year on year drop in quarterly profits since the height of the financial crisis. 4.3 billion was down from 4.4 billion last year. 2) Credit Suisse group is poised to close down its commercial mortgage backed securities divisions just days after a new warning of layoff on wall street according to people familiar with the...
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...kinds of public offerings are made by companies wishing to refinance, or raise capital for growth. This ability to quickly raise large amounts of capital from the market is a key reason many companies seek to go public. Visa Inc. is a global payments technology company headquartered in San Francisco, California. It facilitates electronic funds transfers throughout the world. Visa does not issue cards, extend credit or set rates and fees for consumers; instead, Visa provides financial institutions with Visa-branded payment products that they then use to offer credit, debit, prepaid and cash-access programs to their customers. Visa has operations across Asia-Pacific, North America, Central and South America, Caribbean, Central and Eastern Europe, Africa and Middle East. Visa’s industry is Financial Services which includes a broad range of organizations that deal with the management of money. Visa’s initial public offering took place three years ago on March 18, 2008. This paper will analyze the process followed by VISA in its IPO in addition to the reasons and their current situation after going public. Company History Visa’s history begins in mid-September 1958 when Bank of America launched its original BankAmericard credit card program...
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...always look up to. His career with Citibank has been a quick progression through the ranks from the assistant branch manager to the manager position at the most important of all the bank branches in the Los Angeles area – the Financial District office. Until this year his performance exceeded expectations in every single year. His financial results have been truly impressive. However with the introduction of the new performance scorecard which reflected the company’s broadening of the evaluation scope to customer satisfaction score, it became obvious that this was essentially the only area where James’ performance was lacking. At the same time Frits Seegers, President of Citibank California, was convinced that customer satisfaction indicator was important not only for meeting ever-increasing expectations of highly-sophisticated clients, but also for achieving strategic goals of the division, and staying competitive. Since five of the six performance measures in James’ year-end evaluation were “above par”, the customer satisfaction rating was the only one that caused a significant challenge and had substantial financial repercussions for James’ year-end bonus, which was a significant part of his base salary. Based on his customer satisfaction scores, which was “below par” according to the banks written guidelines,...
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...PERE’s ranking of the 30 largest private equity real estate firms in the world Methodology e PERE 30 measures equity raised between 1 January 2006 and mid-April 2011 for direct real estate investment through closed-ended, commingled real estate funds and co-investment vehicles that sit alongside those funds. e vehicles must give the GP discretion over the capital, meaning club funds, separate accounts and joint ventures are excluded from the ranking. Also excluded are funds with strategies other than value-added and opportunistic, such as core and core-plus, as well as those not focused on direct real estate, like fund of funds and debt funds, and funds where the primary strategy is not real estatefocused, such as general private equity. Change is in the air Consolidation, business exits and strategic shifts among general partners begin to manifest themselves in the 2011 ranking While the full e ect may not be completely evident yet, the main theme reverberating through this year’s PERE 30 ranking is change. Many of the rms that comprise the list are going through a transformation, whether it is acquiring competitors to achieve greater scale or gain access to a region, scaling back operations or exiting the business completely in the wake of the recent downturn and expected reforms or just adjusting strategy to take a new approach to investing and fundraising. Some of these changes already have a ected the standings, while others will take another year or two to have...
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...SUMMARY Condensed information of Visa Inc. is presented by revising the historical events and based on the respective 10-K Filing that this company published every year since its Initial Public Offering (IPO). First, the paper opens with a review of the company and its industry. Second, the Financial and Non-Financial facts are reported based on information stated on the Security and Exchange Commission (SEC) filings. Followed by an analysis that describes how successful was the IPO in raising capital, which continues with a narration of the happenings to the company since the IPO. Finally, the trend of Visa’s stock price since the IPO is scrutinized. THE COMPANY AND ITS INDUSTRY Visa Inc. is a company headquartered in San Francisco, California that engages the process of trading electronic payments through a network worldwide. It enables commerce through transferring data information (which has money value) among financial organizations, merchants, shoppers, businesses, and government entities via VisaNet (an exclusive asset of the company) which is a Network Information System (NIS) that is capable of offering fraud safety for consumers and guarantees payment for merchants. Visa’s payments platforms allow: credit, debit, prepaid, and cash access programs, that include digital, mobile, and eCommerce payments for individuals, businesses and government entities. In addition, the company offers risk management, issuer processing, loyalty, dispute management, value-added information...
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...SPECIAL REPORT I N T E R N AT I O N A L B A N K I N G May 19th 2012 Retail renaissance SPECIAL REPORT INTERNATIONAL BANKING Retail renaissance The internet and mobile phones are at long last turning boring old retail banking into an exciting industry, says Jonathan Rosenthal IF YOUR BANK could start over, this is what it would be, trumpeted the marketing campaign for the launch in 1999 of Wingspan, an internet bank. The following year the bank was gone. In September 2000, a few months after the dotcom bubble burst, it was absorbed by its boring American bricks-and-mortar parent, Bank One (now part of JPMorgan). For all the high hopes that the internet would transform banking, most other internet banks launched around that time met with a similar fate. Citi f/i, an online bank started by Citigroup, was folded back into its parent in 2000. NetBank, an American pioneer of internet banking, soldiered on for longer than most but was shut down by banking regulators in 2007. On the other side of the Atlantic, Egg, Britain’s rst stand-alone internet bank, shook the market in 1999-2000 when it gained more than 2m customers within months of starting up. But within a few years it, too, had in e ect disappeared, its customers having been sold rst to Citigroup and then to Barclays and the Yorkshire Building Society. It was an ignominious end to a bold experiment in online banking that had caused palms to sweat in banking centres around the world. The promise of internet banking...
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...Collaboration to Build Healthier Communities A Report for the Robert Wood Johnson Foundation Commission to Build a Healthier America Wilder Research Wilder Research Wilder Research Report prepared for the RWJF Commission to Build a Healthier America by Paul W. Mattessich, Ph.D. Wilder Research Saint Paul, Minnesota Ela J. Rausch, M.P . .P Federal Reserve Bank of Minneapolis Minneapolis, Minnesota With support from the Robert Wood Johnson Foundation June 2013 Creating Healthy Communities Cross-sector partnerships are sparking widespread action to improve community health COATESVILLE , PA SEATTLE, WA Access to healthy foods Access to preventative care and healthy housing LOS ANGELES , CA Quality early child care and education CHICAGO, IL Data and evidence to build health into all policies and practices MIAMI , FL Opportunities for physical activity and healthy living health community development • community development finance • community planning • early child care/education • human services • housing Introduction “ Building a healthier America is feasible in years, not decades, if we collaborate and act on what is making a difference.” —Robert Wood Johnson Foundation In 2008, the Robert Wood Johnson Foundation convened a commission of nonpartisan leaders to identify opportunities to improve the health of all Americans by creating environments that protect and actively promote health. Their report, Beyond Health Care:...
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