NEW STRATEGY FOR CITIBANK N.A. INDONESIA TO OPTIMIZING DIGITAL TRANSFORMATION

• Main Author: Dhia Fialdi, Fadhila
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/63268
• Institution: Institut Teknologi Bandung

The banking and financial industries are currently grappling with a fundamental strategic issue: the advancement of digital technology. Indonesian banks are now considering digital as part of their overall strategy due to digital disruption. Banking and financial sectors are expected to grow at a quicker rate than ever in the coming decades, thus change management and digitization will be critical in gaining a competitive advantage over competitors. Digitalization has given the banking industry new business models and concepts and for that company must be aware of the fast changing work environment as well as the overall state of change in the financial sector in order to execute these new financial sector implementations as part of their strategy. This final business project has addressed the condition of digital developments in the banking industry more specifically in Citibank Indonesia that affect customer experiences. Interview with six respondent was conducted. Business issue analysis has been conducted using external and internal environment analysis such as PESTEL, and Porter’s five forces for External Analysis, also Business Model Canvas, and Value Chain for Internal Analysis. The outcomes of the analysis were brought together to determine company’s New Business Model Canvas and Diamond Strategy to proposed new business model for sustainability. Based on the internal and external analysis of Citibank’s’ environment, Citibank must continue to work on upgrading digital technologies in order to meet consumer expectations. Citibank can employ new technical advancements to meet the increased needs of consumers when the digitalization process is influencing them.