History of Citibank
Founded in 1812 as the City Bank of New York by a group of New York merchants, the bank's first head was “Saumel Ostgood”, who had been United States Postmaster General. In 1863 the bank joined the U.S.'s new national banking system and became The National City Bank of New York. By 1868, it was considered one of the largest banks in the United States, and in 1897, it became the first major U.S. bank to establish a foreign department. In 1896, it was the first contributor to the Federal Reserve Bank of New York.
Bank mission and strategy
Citibank's strategy is to be the bank that supports the funds flows emanating from our customers' commerce activity occurring on the net.Leveraging our core competencies, our aim is to be the payment/settlement site of choice in the business to business (B2B) and business to customer (B2C) flows, as well as a provider of value-added solutions for net businesses. The bank strategy encompasses a three-pronged approach to working with our customers to develop e-Solutions.
e-Solutions provide clients and communities, in general, with new ways to operate and redefine market practices or open new market spaces in the e-business frontier. These e-Solutions reshape business process for speed and quality and are the new gears that drive the e-business growth and permanent infrastructure changes for the new e-space.
Extended marketplace efficiency
1. Purchasing an account or e-account
2. Real time processing of transaction
3. Unique options of finance
4. Electronic payments
5. Real-time processing of transactions
Founded in 1812 as the City Bank of New York by a group of New York merchants, the bank's first head was “Saumel Ostgood”, who had been United States Postmaster General. In 1863 the bank joined the U.S.'s new national banking system and became The National City Bank of New York. By 1868, it was considered one of the largest banks in the United States, and in 1897, it became the first major U.S. bank to establish a foreign department. In 1896, it was the first contributor to the Federal Reserve Bank of New York.
Bank mission and strategy
Citibank's strategy is to be the bank that supports the funds flows emanating from our customers' commerce activity occurring on the net.Leveraging our core competencies, our aim is to be the payment/settlement site of choice in the business to business (B2B) and business to customer (B2C) flows, as well as a provider of value-added solutions for net businesses. The bank strategy encompasses a three-pronged approach to working with our customers to develop e-Solutions.
e-Solutions provide clients and communities, in general, with new ways to operate and redefine market practices or open new market spaces in the e-business frontier. These e-Solutions reshape business process for speed and quality and are the new gears that drive the e-business growth and permanent infrastructure changes for the new e-space.
Extended marketplace efficiency
1. Purchasing an account or e-account
2. Real time processing of transaction
3. Unique options of finance
4. Electronic payments
5. Real-time processing of transactions
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