The Bankwatch

Tracking the consumer evolution of financial services make a major coup in banking, with CitiGroup deal make a major coup in banking, with this CitiGroup contract.  Siebel (Oracle) must really feel this, above the rest.  When we see SalesForce, with their web based, collaborative and frankly simpler application, making inroads like this, its an indication of industry changing moves. 

Finextra: reports Citigroup deal

He said Citibank selected the technology over every
other major CRM package, including those offered by Oracle, SAP and

The bank will become the vendor’s fifth largest
customer with more than 25,000 subscribers. The vendor’s other big
clients include US investment bank Merrill Lynch which earlier this
year ordered the financial adviser desktop product for
25,000 staff.

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Written by Colin Henderson

November 18, 2007 at 22:42

Posted in Uncategorized

One Response

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  1. Well spotted, Colin.

    SalesForce led the emerging trend for affordable but above all, accessible CRM tools. It was only a matter of time that a major bank (but who’d of thought stodgy old citi?) would come on board.

    Banks perhaps more so than ever before are realising that they must take the marketing fight to the customer rather than vice versa. They need the right information available at the point of sale, not back in the office.

    Let’s hope this is another nail in the coffin of dinosaurs like SAP and Siebel who have ripped of customers for far too long with heavy, unusable products. And seeing Microsoft lose out is good news, too!

    Neil Robinson

    November 20, 2007 at 04:19

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