Since more digital (CNBC 2018). To prove that

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:

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·      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



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