Citibank - Institute for Information Business
Citibank - Institute for Information Business
Citibank - Institute for Information Business
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Some MNEs started implementing their own web-enabled financial<br />
products be<strong>for</strong>e the banks and disintermediated banks. There were<br />
also other MNEs that expressed their interest of cooperation with<br />
banks <strong>for</strong> future developments.<br />
This required vast resources, and consolidations that were taking<br />
place meant fewer bank were competing <strong>for</strong> this market. <strong>Citibank</strong><br />
and Deutsche Bank were leading the competion while ABN AMRO was<br />
also following from behind.<br />
In Early 2001, Deutsche launched global db-Ebills payment service<br />
which could deal with various currencies, languages and business<br />
practises.<br />
Other large banks were cooperating also <strong>for</strong> providing their<br />
customers single global solutions. In International Cash Management<br />
(ICM) companies work with lead banks or their local partners.<br />
Although most of the Fortune 500 companies preferred Citi <strong>for</strong> these<br />
purposes, Citigroup faced fierce competition also from tech<br />
companies who provide similiar solutions.
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