Citi provides consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
“The financial industry is going through big changes,” says Director of Applications Himanshu (HeMan) Shrivastava. “There are more mobile phones than people now, so we have to reach out to customers through these devices to stay in the market. Last year our CEO announced the new strategy. We have to transform ourselves, change to a new way of working, bring agility, cost reduction, and a focus on quality. We have to build simple systems for a remarkable customer experience. If we don’t do this, we will lose to our competitors.”
The company used TIBCO ActiveMatrix BusinessWorks, TIBCO Enterprise Message Service, and TIBCO ActiveMatrix BPM to revamp its strategy; improve its agility, innovation, flexibility; and bring fast results.
“Recently, we had a critical business initiative to enable straight-through processing for credit card applications,” says Mr. Shrivastava . “We looked at our assets in TIBCO to see what we could reuse because the business was looking at a quick turnaround time. We saw we could take our BusinessWorks and BPM assets and combine them, and we were able to deliver this much faster. Customers used to get a card in one to two weeks. Now card pre-approval takes 10 to 12 minutes and the card can be delivered to door steps within 2 days.”
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