Citibank CEO promises greater business efficiency in 2013

Posted by Justin Hesser on January 24, 2013

Citibank is continuing to grow as a global financial leader and, according to CEO Michael Corbat, progress is satisfactory, but it could be better.

Corbat spoke with CNBC at the World Economic Forum in Davos, Switzerland, this week and indicated that overall, he is pleased with the way things are going.

“Our fundamental business is heading in the right direction,” he said, but he suggested his company’s situation could be improved overseas. “Europe remains challenging. Global growth is slowing.”

Corbat said that to ensure domestic growth continues on its impressive path and to give global growth the kickstart it needs, he is taking 2013 to focus on improving business efficiency. By getting workers across departments, branches and even continents on the same page, everyone can work toward the same ultimate goal. 

This can be done by implementing new technology or by partaking in custom application development. Installing a system that performs on a global scale and allows for easier access to data and content from across the globe, Citibank can provide its employees with the ability to improve their daily tasks, which in turn benefits the organization as a whole. 

For example, a system designed to identify financial risk will only reach its potential if all relevant personnel have access to pertinent, real-time data. By implementing a custom database software system built in FileMaker, employees will be able to examine information and make important decisions based off of that information quickly while alleviating the risk for error. 

Ultimately, growth is only attained if organizations can discover ways to increase profits without having to overspend on new systems or processes. By working with a custom development firm, companies such as Citibank can obtain a solution designed to improve efficiency while staying within budget constraints and without having to wait an extended period of time for their new software.