Since some 20 Million visits every month and between

Since Medieval Ages managing money and exchanging currencies has been
one of the fundamental part of society. Exchanging money by people working in
banks have defined the way commercial banking works. The old hand to hand
exchanges are becoming a thing of past thanks to new advances in technology.

One of the biggest investors in technology is the Financial Industry. In the
past 10 years, spending on tech has drastically increased and is currently $19
Billion. In the Banking sector Citibank is one of the leading giants in this
Tech Revolution. In addition to that Citibank came up with an idea of Smart
Branches in 2010. A Smart Branch is basically an advanced bank which has
similar aesthetics to current apple stores. And with this Citibank becoming
more digital (CNBC 2018). To prove that the impending change is needed and
genuine, one only need to look at China handling the banking sector, for organizations
such as Alipay and Tencent have more customers than nation’s best banks. A
Citibank official said “Our consumer bank business in Asia draws some 20
Million visits every month and between 90 to 95 percent of all transactions
already happens outside a branch” (Citigroup Inc. 2018). The SWOT Analysis of
the evolving banking business model is as follows:

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!

order now


·      Solid Brand acknowledgement

·      Persistent interest in innovation

·      Expansion of products and Services


·      ERP function fails

·      Difficult to do analytics and


·      Expand Global banking

·      Offer new ways of Banking


·      Substantial Rivalry

·      Large Investment required in tech