Citigroup achieves enterprise-wide information sharing, cost-efficiency and innovation with IBM ECM

Published on 29-Oct-2007

Validated on 21 Apr 2010

"We chose IBM ECM because of its market leadership and financial performance. Having made the initial purchase, we saw the potential to leverage our investment and the momentum we had achieved with the product. Migration to IBM FileNet P8 provides advanced technology and long-term support, enhanced scalability to support mission-critical applications, and greater flexibility. The open architecture also facilitates integration. —Marco Diehl, 1st Vice President, Cititech" - —Marco Diehl, 1st Vice President, Cititech

Customer:
Citigroup

Industry:
Banking, Financial Markets

Deployment country:
Germany

Solution:
Enterprise Content Management, Information Integration, Leveraging Information

Overview

Citigroup has 200 million customer accounts and has business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management.

Business need:
Citigroup decided to extend its use of the solution from pure imaging to a strategic platform for content and core business processes.

Solution:
IBM ECM provides Citigroup with a strategic platform for managing content and business processes. Handling up to 100,000 images, 1,000 COLD reports & more than 1.5 Gigabytes of data every day.

Benefits:
Cost savings of around $5 million Centralised data delivers faster response times & better customer service Citicard application processing time cut from over 2 weeks to just 2 days More efficient use of manpower resources Clear ROI as all divisions can leverage the ECM technology Centrally managed, enterprisewide solution delivers timely, accurate information

Case Study

Overview

A pre-eminent global financial services company, Citigroup has 200 million customer accounts and has business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup’s trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers Life and Annuity.

“We chose IBM ECM because of its market leadership and financial performance. Having made the initial purchase, we saw the potential to leverage our investment and the momentum we had achieved with the product. Migration to IBM FileNet P8 provides advanced technology and long-term support, enhanced scalability to support mission-critical applications, and greater flexibility. The open architecture also facilitates integration.”
—Marco Diehl
1st Vice President, Cititech

The customer

Headquarters
Frankfurt am Main, Germany

Industry
Financial Services

Application
IBM ECM provides Citigroup with a strategic platform for managing content and business processes. Handling up to 100,000 images, 1,000 COLD reports & more than 1.5 Gigabytes of data every day.

Benefits

  • Cost savings of around $5 million
  • Centralised data delivers faster response times & better customer service
  • Citicard application processing time cut from over 2 weeks to just 2 days
  • More efficient use of manpower resources
  • Clear ROI as all divisions can leverage the ECM technology
  • Centrally managed, enterprisewide solution delivers timely, accurate information

Products
  • IBM FileNet Business Process Manager
  • IBM FileNet Content Manager
  • IBM FileNet Image Manager

The Business Environment
In order to leverage its IT investments and optimize operational efficiencies and control across Europe, Middle East and Africa, Citigroup has established a central IT services centre for Archiving & Workflow solutions in Frankfurt that provides IBM FileNet Enterprise Content Management (ECM) capabilities to business users across EMEA. As Marco Diehl, 1st Vice President for Cititech says, “We have now proven the concept of sharing infrastructure investment across Europe and have further plans to extend our capabilities within the Group.”

Having made its first investment in IBM FileNet five or six years ago when it used IBM FileNet to support a microfiche replacement project, Citigroup decided to extend its use of the solution from pure imaging to a strategic platform for content and core business processes.

Commenting on its selection, Diehl states: “We chose IBM FileNet because of its market leadership and financial performance. Having made the initial purchase, we saw the potential to leverage our investment and the momentum we had achieved with the product. Migration to IBM FileNet P8 provides advanced technology and long-term support, enhanced scalability to support mission-critical applications, and greater flexibility. The open architecture also facilitates integration.”

The service centre in Frankfurt provides systems, support and forges service level agreements with business units across Europe, Middle East and Africa to address their enterprise content and business process management requirements. Today, Frankfurt technology staff supports around 1500 users across twenty separate Citicorp business units using IBM FileNet. This covers cards and loans business as well as retail business and investment banking.

The IBM ECM Solution
The scope of Citigroup’s use of IBM FileNet ECM becomes clearer when we explore the example of the cards business where IBM FileNet is used to support the application process, as well as issue or compliant handling. All customer communications are first presorted, scanned, and indexed before being sent to the Frankfurt-based server, which activates the respective workflow and archives the documents. All manual work to manage new applications, answer customer inquiries and terminate accounts is managed out of India, with any exceptions or complex requests being routed to supervisors in Manchester in the UK. This outsourcing capability alone is estimated to have saved Citigroup several million USD. According to Diehl, the benefits go beyond the cost savings: “We are better able to respond to customer requests. On the day of receipt, all customer communications are made available to our team in India which makes us highly responsive and, therefore, competitive. The IBM ECM solution has enabled us to cut the application process from over 2 weeks to just 2 days.”

In a different business unit, IBM FileNet is used to support a similar customer response mechanism to marketing campaigns. The latest workflow initiative covers the areas of loans, private finance and mortgages, all of which will use IBM FileNet P8 to increase process efficiency across EMEA.

In terms of total volumes supported by the centralized IBM ECM solution, Diehl estimates that the total archive is in the region of over 3TByte of data. IBM FileNet handles up to 100,000 images per day and 1,000 COLD reports, some of which can be 1,000 pages in length. In total, this amounts to between one and one and a half gigabytes of data each day.

For data security purposes, the system has disaster recovery support via a “mirror” system in a separate location in Frankfurt, as well as storing two copies of every document. There is a daily complete synchronization of all business processes.

The Benefits
The benefits of CitiGroup’s innovative central services centre model are considerable. Firstly, there are the cost savings, estimated to be in the region of several million USD annually, and Diehl expects further leverage in the long term: “Obviously, the more businesses we have using the system, the lower the unit cost becomes.”

Secondly, the centralization of all data in one location supports optimum customer service, both in terms of process / response speed and customer knowledge. Having a single place for all data also enables Citigroup to shift work around the region according to the availability of staff. This results in the most efficient and cost-effective use of manpower.

Thirdly, departments in any Citigroup division have the ability to leverage content and business process capabilities wherever they reside. This ensures optimum return on IT investment. In the future, Diehl plans to link IBM FileNet to other front-end systems within CitiGroup, further building on this leverage.

Managing projects centrally and across the enterprise means that Citigroup can meet its strategy of getting the right information to the right people at the right time, regardless of where they are located.

Products and services used

IBM products and services that were used in this case study.

Software:
FileNet Business Process Manager, FileNet Content Manager, FileNet Image Manager Active Edition, FileNet P8 Platform

Footnotes and legal information

SWC10020-DEEN-00

IBM 3565 Harbor Boulevard Costa Mesa, CA 92626-1420 USA The IBM home page can be found on the Internet at ibm.com. IBM is a registered trademark of International Business Machines Corporation. Other company, product and service names may be trademarks, or service marks of others. References in this publication to IBM products, programs or services do not imply that IBM intends to make these available in all countries in which IBM operates. Any reference to an IBM product, program or service is not intended to imply that only IBM’s product, program or service may be used. Any functionally equivalent product, program or service may be used instead. IBM hardware products are manufactured from new parts, or new and used parts. In some cases, the hardware product may not be new and may have been previously installed. Regardless, IBM warranty terms apply. © Copyright IBM Corporation 2007.