Westford School of Management: Research Project on Trade Digitization

This project report, prepared for the Research Methods for Strategic Managers unit, explores the impact of trade finance digitization on customer experience, using Citibank Dubai as a case study. The report includes an introduction to Citibank, outlining the research aims, objectives, and questions focused on evaluating the relationship between trade finance digital services and customer experience. The literature review examines the existing research on digital services and customer experience, analyzing the impact of trade digital platforms and their relation to financial performance. The methodology chapter details the research approach, including the use of both quantitative and qualitative methods, such as questionnaires and face-to-face interviews. The report also includes data interpretation and analysis, recording the findings of primary and secondary data collection, along with conclusions, recommendations, and a gap analysis. The project adheres to specified structural guidelines, including word limits, formatting, and referencing using the Harvard style.

Project Cover Sheet
Course/Unit Information
Unit Name Research Methods for Strategic Managers
Instructor Information
Name
Phone
Email
Project Information
Full/ Part Project
Date Project Issued
Date Project Due
Turnitin Class ID
Turnitin Password
Student Information
(To be filled by the student prior submitting the project)
Name
Email
Date of Submission
Student Declaration
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I, Savio Francisco Afonso hereby confirm that this project is my own work and not
copied or plagiarized. It has not previously been submitted as part of any assessment for
this qualification. All the sources, from which information has been obtained for this
project, have been referenced as per Harvard Referencing format. I further confirm that
I have read and understood the Westford School of Management rules and regulations
about plagiarism and copying and agree to be bound by them.
Learning Outcomes and Assessment Feedback
Name of the Assessor Ashima Keluskar
Learning Outcomes Assessment Criteria (AC) Assessor Feedback
LO 1
AC MET
Understand how to select
a research question
1.1 - Select a research question
1.2 - Explain the factors that contribute to the
process of successful research question
selection
NOT MET
1.3 - Justify their choice of research question NOT MET
LO 2 AC MET
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Be able to conduct a
literature review
2.1 - Conduct research to find literature
relevant to the research question
2.2 - Undertake a critical review of the key
literature for inclusion in a research proposal AC MET
LO 3
NOT MET
Understand techniques
used to interpret data in a
research proposal
3.1 - Evaluate techniques for use with
quantitative data in a research proposal
3.2 - Evaluate techniques for use with
qualitative data in a research proposal NOT MET
LO 4
NOT MET
Be able to choose the
appropriate methodology
to research the question
4.1 - Evaluate appropriate research
methodologies in terms of the research
question
4.2 - Choose an appropriate methodology in
terms of the research question NOT MET
NOT MET4.3 - Justify the methodology selected in
terms of the research question
LO 5
Be able to present the
findings of a research
proposal
5.1 - Record findings on a research question,
literature review and methodology in an
agreed format
AC MET
5.2 - Summarise the findings using suitable
methods NOT MET
5.3 Present the findings using suitable
methods AC MET
5.4 Critically analyse the findings NOT MET
Internal Verification Report
Internal Verification Done By Date
Project Brief
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Over All Result/Grade REDO Date: 07/09/2019
Summative Feedback:
Overall Feedback on
current work with
emphasis on how the
student can further
improve in future.
Some of the answers seems missing. Also Recommendations seems
missing.

Assessors Decision
General Guidelines
(Please read the instructions carefully)
1. Complete the title page with all necessary student details and ensure that the signature of the student is
marked in the declaration form.
2. All projects must be submitted as an electronic document in MS Word to the LMS (Use 12 Times New
Roman script).
3. Project that is not submitted to the LMS by the prescribed deadline will be accepted ONLY under the
REDO and RESIT submission policy of Westford.
4. You will PASS the full project task only if you achieve “AC Met” in each of the Assessment Criteria.
5. The results are declared only if the student has met the mandatory attendance requirement of 75%
and/or a minimum of 50% under extenuating circumstances approved and ratified by the Academic
Director. The student has to repeat the module (with additional fees applicable) if the attendance is
below 50%.
6. The project should not contain any contents including references cited from websites like
www.ukessays.com, www.studymode.com, www.slideshare.net , www.scribd.com.
7. Students can refer Wikipedia as a source of information, but the references cited in Wikipedia
has to be mentioned.
8. Submit the project in a MS Word document with the file name being:
First Name Last Name_ abbreviation of the subject.
Example: John Smith_RMSM.
Quick reference Checklist for the Faculty/Instructor to accept/reject the project before evaluation:
1. Adherence to the deadline of submission date.
2. Original cover sheet and format retained.
3. Student information and signature intact.
4. Font style and size used as instructed.
5. Harvard Referencing System and Citations are strictly followed.
Task: Report covering LO1, LO2, LO3, LO4 & LO5.
Project title Research Methods for Strategic Managers
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Prepare a research project report based on a chosen area of study pertaining to any of the
management functions like HR, Marketing, Operations, Finance, Logistics, etc. Research report
can also be prepared on cross-functional domains or on any of the major contemporary issues of
management. You will choose your own company or a company of your choice and actually carry
out research based on collection of primary data, as well as secondary data pertaining to the area
of your research work. Following structural guidelines must be adhered to, while preparing the
research report:
Structural guidelines:
1. The word limit for report should be between 5000-6000, excluding cover pages, references and
appendices.
The report must contain a cover page with the topic title, table of contents, brief abstract, list of tables,
figures and diagrams specifying their numbers and respective page numbers.
The report should be concluded with a proper referencing, prepared on Harvard Referencing Style,
which must be reflected in in-text citations.
4. The appendices and/or annexures must provide the sample of the questionnaire, interview questions,
used to obtain data through feedback for the purpose of the research.
The report also must contain logical conclusions and recommendations in the end.
Project (Project Report)
Note1. The first chapter must contain a brief Introduction of the chosen company, including selection of
aim, objectives and research question(s).
1. The project report should start with the company particulars, leading onto specific issues/
problems the researcher wants to research upon. Draw out the main Aim of your research, give
out your main Objectives (approx. 3-4), and also select your Research Questions (one or two).
2. Explain the factors that contribute to the process of successful research question(s) selection.
3. Based on the factors enumerated above in 1.2, justify the choice of the research question(s)
selected by you in context of your chosen organisation.
Note 2. The second chapter must contain relevant literature pertinent to the research question(s) and the
same should be critically analysed by bringing out clearly the voids/ gaps observed from the available
literature and the research work objectives the researcher wants to accomplish, through his/ her basic
research question(s).
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4. The review of literature should comprise both academic and non-academic literature, and should
be a fair combination of literature available from academic sources such as published journals and
articles, as well as other non-academic sources like reports, manuscripts, publications, etc. A
proper research judgment must be applied by conducting research to find literature relevant to the
research question(s). The evaluation should undertake a critical review of the key literature for
inclusion in your research proposal
Note 3. The third chapter of the project will bring out the research methods and methodology chosen by
the researcher to justify how these methods and methodology will help him/ her to find answers to their
research question(s).
5. Evaluate appropriate research methodologies you could choose to help you find answers to your
research question(s), and thereafter choose the most appropriate methodology which will help
you to find answers to your research question(s), bringing out clearly the rationale and
justification of why have you chosen the said methodology.
Note 4. The fourth chapter of the project on the data collection should reflect the understanding of
techniques used which will help you to effectively interpret your data in a research proposal.
6. The process of research for collection of data can be Quantitative and/ or Qualitative. You will
carry out both Quantitative and Qualitative process of research during your research work.
Evaluate the techniques you will use for acquisition of quantitative and qualitative data in your
research proposal. Also, during collection of data, you must justify in terms of fundamental
judgments like how will you collect this data, as well as bring out the population involved,
sampling method and sample size you intend choosing.
Note 5. The fifth and final chapter of the project requires you to record your findings, critically analyse
the quantitative and qualitative data collected by you, and thereby help you to come to firm conclusions
and recommendations.
7. Based on the collection of your primary and secondary data, record the findings of your research
work with respect to finding answers to your research question(s), the literature review done by
you, and the methodology chosen by you. The findings will be recorded and presented with the
help of graphs, charts, tables and use of simple statistical tools like percentages, mean, median,
etc. The findings must be critically analyzed by highlighting similarities and dissimilarities with
the findings of other researches and the literature reviewed. The limitations of the present
research, implications of present research should also be highlighted in brief. Summarize the key
findings, come to firm conclusions and recommendations.
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1. Introduction................................................................................................................................9
1.2 Introduction to Citibank .......................................................................................................9
1.3 Research aims.......................................................................................................................9
1.4 Research Objectives..............................................................................................................9
1.5 Research Questions...............................................................................................................9
2. Literature Review......................................................................................................................10
2.1 To understand the relationship between Digital Services and Customer Experience in the context of a bank
..................................................................................................................................................10
2.2 To analyze the impact of Trade Digital platforms on Customer Experience........................11
2.3 To evaluate whether Trade Digitalisation has a relation with the Financial Performance of a bank 12
2.4 Gap Analysis from the reviewed literature..........................................................................12
3. Research Methodology...........................................................Error: Reference source not found
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3.1 Paradigm, Philosophy and Approach................................Error: Reference source not found
3.2 Type and Cayegory..........................................................Error: Reference source not found4
3.3 Measurement and Scaling Techniques in the QuestionnaireError: Reference source not found4
3.4 Face to Face interviews...................................................Error: Reference source not found5
4. Data Interpretation and Analysis..........................................Error: Reference source not found6
4.1 Compilation of the sample (respondent) feedback........Error: Reference source not found6
5. Conclusion and Recommendations...........................................................................................20
5.1 Conclusions.........................................................................................................................20
5.2 Recommendations..............................................................................................................20
1.2 Introduction to Citibank UAE
Citibank NA UAE is a branch of Citigroup Inc. or Citi an American multinational investment
bank and financial services corporation headquartered in New York City. Citibank NA Present in the
United Arab Emirates since 1964, when the bank opened its first branch in Dubai, Citi has been known
ever since for delivering excellence while consistently bringing world-class banking products and
services to the local market. Citibank, the consumer banking arm of Citi, is currently a major player in the
UAE's credit card market and a leading provider of Wealth Management and Consumer Credit services.
Citibank's branch network in the UAE includes and a network of 60 ATMS located at various commercial
centers across the UAE.
Citi works tirelessly to provide consumers, corporations, governments and institutions with a broad range
of financial services and products. We strive to create the best outcomes for our clients and customers with
financial ingenuity that leads to solutions that are simple, creative and responsible. Citi has been present in
the Middle East and North Africa since 1955 and conducts business in 16 countries in MENA of which 12
have in-country presence. It offers full scale corporate and investment banking services in Egypt, UAE,
Bahrain, Qatar, Kuwait, Lebanon, Jordan, Tunisia, Morocco, Algeria and Pakistan and maintains a
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representative office in Iraq. Citi's institutional capabilities in the region include Treasury & Trade
Solutions, Corporate & Investment Banking, Capital Markets Origination, Global Markets and Islamic
Banking
1.3 Research aims
This dissertation aims to evaluate the concept of Trade Finance Digitization in enhancing customer
experience at Citibank Dubai. This research will evaluate Trade Digitization concepts as a platform for
Trade Finance. It will comprehend the impact of this technology on Citibank in terms of customer
experience with primary focus on the recently introduced Trade Digital technologies at Citibank Dubai
like Citi OCR (Optical Character Recognition), Citidirect for Trade which includes Direct Presentation©
and Direct Collection©.
1.4 Research Objectives
1. To understand the relationship between Trade Finance Digital Services and Customer Experience
in the context of a bank
2. To analyze the impact of powered Trade Digitization platforms on Customer Experience.
3. To understand and analyze the concept of Trade digital technology in a banking setup
4. To evaluate whether Trade Digitalisation has a relation to the Financial Performance of a bank
1.5 Research Questions
A crucial aspect of a study protocol is identifying a research question. It should be a thought-provoking
question. The question sets the framework. It emerges from the title, findings/results, and problems
observed in previous studies. Thus, mastering the literature, attendance at conferences, and discussion in
journal clubs/seminars are sources for developing research questions. A research question is broken down
into more precise objectives. The objectives lead to more precise methods and definition of key terms. The
objectives should be SMART-Specific, Measurable, Achievable, Realistic, Time-framed.
For this study, below are the research requestions formulated based on the aforementioned factors
1. What is the concept of digital technology in a banking setup
2. What are the challenges in implementing Trade Digitalisation in an organisation
3. What is the impact of Citidirect for Trade Citidirect for Trade which inclusdes Direct Presenation©
and Direct Collection©. and Citi OCR on the Customer Experience of Citibank?
1.2 - Explain the factors that contribute to the process of successful research question
selection
The research problem is consider as the main part a research project without which the whole research
process did not take place. In developing the research problem, it is important that variables must be easily
identifiable and eminent while the hypothesis should address each research problem effectively. The major
source of research problem surrounds among the 4p's that is problems, people, programs & phenomena. It
is determine that once the research question is identified then it must be translate into research hypothesis
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which shows relationship among two or more variables into the one and more than it populations.
Variables are undertaken as measurable factors which interpret more than one variable along with three
significant variables that is dependent, independent and extraneous as well. Hypothesis is a tentative
statement of research outcome that shows relationship in more than two variables. It is analyse that
hypothesis enable investigator to apply theory if it is justified. Moreover, the alternate hypothesis and
research hypothesis plays a very significant role when analysing and carrying out research.
1.3 - Justify their choice of research question
The objective of the present investigation is to gain better understanding the relationship between
Trade Finance Digital Services and Customer Experience in the context of a bank. The advantage from
study are important and findings enable organisation to attain many benefits. The prevailing area of focus
was four research question that is dealing with relationship & selection factors, and emphasis on impact,
understand and evaluate trade digital technology.
Literature Review
2.1 To understand the relationship between Digital Services and Customer Experience in the context
of a bank
According to a recent Gartner (2012) report, the banking sector spends $445bn on IT measured in percent
of the revenue in 2012. On average, this is approximately three times as much IT spending compared to all
other industries. Therefore, the emergence of digital technologies i.e. “the combination of information,
computing, communication and connectivity technologies” (Bharadwaj & Sawy, 2013, p. 471) affect
especially IT intensive industries like the financial service industry.
Corporates are becoming more and more familiar with digital technologies. Especially with the existence
of digital natives now employed in the corporate sector, i.e. the future customers, this trend will continue.
Digital natives is a term that describes people that are born after 1980 and show an affinity towards
technology (Prensky, 2001). “With the growing recognition of the customer’s role in service creation and
delivery, there is an increased impetus on building customer centric organizations” (Setia, Venkatesh, &
Joglekar, 2013, p. 565). It becomes inevitable for financial service providers to co-create value with
customers to respond to the change in customer behaviour and needs, which is topic in the customer
relationship category.
Despite a long history of heavily paper-based processes, trade finance is beginning to move into a new era
of digitalisation – characterised by faster and more efficient processes. The researcher finds (Ghosh,
November 2016) illustrates very well that digital banking essentially uses technology to design
experiences, both seen and unseen. Trade digital technologies promises to address the current
bottlenecks in trade finance and thereby radically redefine global trade processes, through these potential
benefits.
2.2 To analyze the impact of Trade Digital platforms on Customer Experience.
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Technological change has been an important phenomenon across the financial services industry in recent
years. The adoption of new technology and the digitization of trade finance has been slower to develop,
however. For several hundred years at least, the paper and process-intensive Documentary Credit was the
preferred product/solution provided by banks as a means of mitigating risk, offering financing and
ensuring secure and timely payment across borders. Early efforts at automation and dematerialization of
documentation, dating back to the mid-nineteen nineties, showed promise but limited market adoption and
limited commercial promise and sustainability. More recently however, a confluence of dynamics has
contributed to the creation of a discernible momentum around the digitisation and transformation of both
trade and trade financing. These factors include the evolution of technical capabilities, a near-global shift
to trade on Open Account terms, as well as retail and commercial market acceptance of IT-enabled
solutions. One of the most crucial aspects of digitised trade finance, meanwhile, is that it enables treasurers
to sign documents online, rather than having to print, sign, scan and send them on. Using predefined
economic and legal conditions within a dedicated framework contract, new bank platforms eliminate this
process in a safe, controlled manner – simplifying client-bank interactions and drastically accelerating
trade finance processes. However, digital authorisation isn’t completely devoid of risk. Responsible
platform providers will need to incorporate effective measures to mitigate these. One such measure is to
give corporates the option to customise authorisation levels for employees across different subsidiaries and
countries, enabling tailored and nuanced permissions that distinguish between different tasks, such as
signing documents, entering data, and many other configurable elements. Platforms such as these can also
streamline the way banks and corporates interact – using embedded two-way communication features to
ensure clients get quick answers and support based on their queries. What’s more, these interactions can be
tracked and monitored online, ensuring a complete record of all communication is retained. The
researcher feels that banks have been slow in embracing technology but they are not void of the
realization that Trade digital banking platforms are the next steps not only for corporates but for
financial and competitive advantage. The study conducted by (Cornin, 2013) points out that the
appetite for new and better services will always; exponentially grow. Hence it is for banks to embrace
technology faster to meet the and parallel the customer expectations because the new age customers who
are called the Gen Y are at the risk of being overtaken by non-banking new entrants who place digital at
the heart of their products and services. (Hobbs, April 2016) adds to this thought that to combat the
traditional banking inertia banks need to focus on new age value proposition and shift from their attention
from profit making to value proposition generating, from cost reduction to resource optimization, from
product focus to system focus and from customer satisfaction to customer experience. Digitisation and the
use of electronic documentation is gaining traction in various areas of trade and trade facilitation, as well
as across various elements of supply chain activity. The benefits of digitizing corporate banking include
lower cost-to-serve through new coverage models, economies of scale and automation leading to reduced
costs, as well as significant revenue opportunities. A digitized banking relationship increases customer
touch points and cross-sell opportunities and provides a bank with a better understanding of client
transaction behaviors. Digitization also improves the customer experience by enabling flexibility, tailored
services and fast response times.
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2.3 To evaluate whether Trade Digitalisation has a relation with the Financial Performance of a
bank
Investment in IT systems, R&D and new operating models require considerable resources and capital and
expose banks to the risks associated with changes. On the other hand, without the transformational
changes, banks may fall behind in the very developments that will contribute to creating future success
stories. Many measures to improve banking sector profitability over the long term weaken profitability in
the short term. In the years to come, banks must respond to the challenges brought by major trends such as
digitalization.
2.4 Gap Analysis from the reviewed literature
1. Most studies did not cover digitaluisation of Trade Finance on a wholistic basis, rather targeeting
few proceses or products involving Trade finance concepts. If banks need to create value for
clients, a complete ovehaual is required from traditional Trade Finance to digital.
2. Most studies did not extensively hilight the cost element involved in develop digital Trade Finance
platforms. The return of risk captail is pivotal for any investment required.
3. Studies done could not capture the risk and complinace framework that is essential to govern
digitalisation of Trade Fianance in the banking landscape.
4. Aspects of Vendor selection or management was not hilighted in any of the studies. Trade
digitialisation requieres bank to partner with fintechs to acceleate their digital offerings.
5. The sudies were not able to sufficently gauge if corpoarte clients will embrace Trade finance
digitalisation and how confortable they would be using the new platform.
6. The studies did not cover how Central Banks and Regulators would view this disruption in the
Industry.
The study will focus on a pragmatic paradigm combinig both qulitative and quantative. Defined as the
framework that shows how to conduct a research, based on the assumptions and philosophies of
individuals- this study aims to capture people’s take, perceptions and understanding of ‘digital’ in the
banking connotation and its contribution to their ‘experience’ as they interact with Citibank through the
Trade digital platform- which inclusdes Direct Presenation© and Direct Collection©. and Citi OCR. The
study that the plans to positivism and interpretive paradigam which leads the philosophy to be both realist
and subjective. The Pragmatic paradigm in this study advocates the idea proposed by (Curran &
Blackburn, 2005) who implies that rather than being constraint by a single paradigm and by ignoring the
philosophical debate of reality, the weaknesses of one paradigm can be off-set by having a Plurist
approach.
3. Research Methodology
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3.1. Paradigm, Philosophy and Approach
The researcher’s study is of a Pragmatic paradigm- a study which incorporates the study of natural
sciences both with quantitative and qualitative aspects of respondent feedback. Defined as the framework
that shows how to conduct a research, based on the assumptions and philosophies of individuals- this study
aims to capture people’s take, perceptions and understanding of ‘digital’ in the banking connotation and its
contribution to their ‘experience’ as they interact with Citibank via Trade digital platforms. The researcher
has understood that an effective study can be conducted when the most appropriate paradigm is work
within; where appropriateness is determined as the ‘freedom to choose many methods’ (Creswell &
Clark, 2007)and approaches to determine the most suitable methodology (Cherry, 2017) to address a the
problem that exists in the study- which clearly holds its relevance as what is stated above for research
framework. The Pragmatic paradigm in this study advocates the idea proposed by (Curran & Blackburn,
2005) who implies that rather than being constraint by a single paradigm and by ignoring the philosophical
debate of reality, the weaknesses of one paradigm can be off-set by having a Plurist approach. The
researcher will have a blend of inductive and deductive approach for this study because the context needs
to be interpreted in a detailed way. As mentioned above to capture people’s take, perceptions and
understanding of ‘digital’ in the banking connotation, the actual contexts of the participants will be
recognize by the researcher and identify the settings which are related directly to the phenomenon of
interacting with the bank through digital banking platforms and what are possible effects of artificial
intelligence on customer experience. This justifies the Realist and Subjective philosophy.
Research
Framework Description
Paradigm
The study will be of a Pragmatic paradigm blending the study of both,
qualitative and quantitative. Hence the blend of both, Positivism and
Interpretive paradigm.
Philosophy Since the study plans to incorporate Positivism and Interpretive
paradigm, the philosophy will be both- Realist and Subjective.
Approach The study will incorporate both Inductive and Deductive- Plurist
Approach.
3.2 Type and Category
This study will constitute both Qualitative and Quantitative type of research which will aim in obtaining
raw data, analyzing it and finally interpreting it. As per (Leedy & Ormord, 2007), qualitative research
method is not used with an intention to “test” a hypothesis but to “describe, analyze, and interpret the
context and settings within which the problem has been identified (McLeod, 2001). The researcher plans
to study the topic qualitatively and with the help of measurement and scaling the feedback of respondents
would be given a numeric identity to ascertain the impact of their perceptions and thoughts.
Thus this research type will explain the “How” and “Why” does Trade digital Concepts work as digital
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banking platforms to affect customer experience.
3.3 Measurement and Scaling Techniques in the Questionnaire
The questionnaire is cautiously framed to adequately capture the respondents comment so that the
qualitative responses are quantified by using the right scaling and measurement techniques. These
questionnaires are considered to be one of the most important tool in conducting a research and
measurement is one of key process to obtain result from these questionnaires. (Trochim, 2006)
Measurement is defined as a process of evaluating an observation of data that has been initially been
collected during a research or as part of research. These opinions can be measured and verified in terms of
numbers or characteristics symbols. Characteristics that are measured or can be measured such as attitudes,
opinions, feelings etc. (Cross, 2017) Scaling being a quantitative measurement is defined as the task of
objects to variables/numbers or semantics that can gain insights according to a rule. In scaling, text
statements are the main objects that are measured and statements related to feelings, attitude or opinion are
considered.
.3.2 Face to Face Interviews
These Interviews are selectively chosen for high level discussions with senior executives of Multinational
Corporates. It is important to note that since this study is of an exploratory design the face to face
interviews have facilitated insight into what corporations are looking at. The researcher has been able to
accumulate the following through the detailed discussions:
1. Vital growth drivers and limitation of the market
2. The market dynamics
3. Important consumer trends and demands
4. Key strategies for companies to expand its growth.
5. The competitive landscape of the industry.
Questionairre
1. How comfortable are you using Trade digital platform interface?
- Very comfortale
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- Not comfortable
2. Is there an impact on your transaction processing timelines?
- Yes, it has improved
- No, there is no improvement
- Can’t decide
3. Do you think the digital platform is open to regulatory risks or breaches?
- Yes, there are risks involved
- No, there is no foreseeable risk
- Can’t decide
4. Does trade digital platform impact your working capital cycle?
- Yes, my working capital cycle has improved a lot
- No, my working capital cycle has worsened
- There is no change to my working capital cycle
5. What influenced your decision to use Trade finance digital platform?
- Savings in Cost and time for your company
- Citi’s Trade Finance product suite
- Citi’s online advisory and Customer services
6. How satisfied are with Citibank’s focus on creative and innovation processes?
- Somewhat satisfied
- Not Satisfied
- Satisfied
4. Data interpretation and analysis
3.1 Evaluate techniques for use with quantitative data in a research proposal
In the present research, frequency distribution table is use for quantitative data. It is a table which
shows how a set of values in the question arise in data set. In addition to this, it represent the table of each
question which is associated with research objectives. For collecting, the quantitative data, questionnaire is
developed by the researcher that involves a series of questions and is asked by the people who give
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answers as per their experiences. The frequency distribution table is used as it help researcher in detailed
analysis of population in context to the question. Moreover, it is a time consuming process and help
investigator to gain positive results.
3.2 - Evaluate techniques for use with qualitative data in a research proposal
It is evaluated that thematic analysis is used by researcher as a method of analyzing qualitative
data. It help the researcher to deeply examines the information in order to identify knowledge about the
particular topic. The research take the interview of selected people in order to collect qualitative data. It is
evaluated that thematic analysis is a good approach to investigate something about opinions, views and
experience of people that hep in gaining positive results in an appropriate manner.
4.1 Compilation of the sample (respondent) feedback
1. How comfortable are you using Trade digital platform interface?
An overwheming 80% of clients feel comforatle using the new trade digital platform, this feedback from
the respondents leads the researcher to believe that the new platform is userfriendly and a the same time
secure.
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2. Is there an impact on your transaction processing timelines
83% of clients clearly acknowlege that Trade digitalisation has improved their overall transaction
processing timelines. This feedback goes to show that . Customers are ready to switch from old traditional
banking to digital banking and ensure a positive attitude towards the initiative of the bank. This response
from clients will encourage Citi to create more value for their clients through more digital initiatives.
3. Do you think the digital platform is open to regulatory risks or breaches?
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Majority of the clients (67%) feel that the new trade digital platform is free from any regulatory risks.
However, there are quite a few clients who disgaree or cant decide. The result of this survey will cause a
concern for Citibank and they would need to do more to convince clients that the Trade digital platform
does not breach any regulatory policies
4. Does trade digital platform impact your working capital cycle?
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Based on this survey it is very evident that majority of clients acknowledge that the Trade digital platform
positively impacts their working capital cycle. The researcher comes to an understanding that it will lead
Citi to believe that this innoative innitiatve is a success as one of its aims was to improve their clients
working capital cycle.
5. What influenced your decision to use Trade finance digital platform?
Through this question, the clients’ feedback gives the researcher an understanding on the factors which
creates more value for clients. Here, the researcher is led to believe that savings in cost and time (47%) is
most important to clients followed by Citi’s state if the art Online advisory and customer services (33%)
and lastly followed by Citi’s Product suite (20%).
6. How satisfied are with Citibank’s focus on creative and innovation processes?
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This responses to this question leads the researcher to understand that majority of clients are satisfied with
Citi’s focus on creativity and innovation in the financial services sector.
4.1 - Evaluate appropriate research methodologies in terms of the research question
From the above discussion, it is evaluated that primary data collection method is used by the
researcher in order to collect information about the particular topic. In addition to this, it help researcher to
gain original data that help in developing valid and reliable conclusion. For collecting primary
information, a questionnaire is developed that involves a set of question associated with the researcher
objectives. This help investigator to gain insight about people opinions and views that results into positive
and valid outcomes in a proper manner.
4.2 - Choose an appropriate methodology in terms of the research question
Quantitative method: In this type of research method, the data gathered takes the form of counts
or measurement that can be statistically analysed. In addition to this, the data collected through
quantitative method is result out in the form of statistics, facts and figures assist in developing appropriate
and valid conclusion. The quantitative data is gathered by various methods such as face to face interview,
interview, paper survey and may more. In the present report, questionnaire is develop in order to collect
quantitative data and to gin insight about person's view towards particular topic.
Qualitative method:Herein, the information which is gathered is in the form of non-numerical
data. In addition to this, such methods gather naturally occurring, non-biased information. There are
various methods to collect qualitative data that is group interviews, structure & unstructured interviews,
focus group and many more.
Sampling: It is defined as a process by which a particular group is predetermined for observation
from the whole population. In addition to this, there are mainly two types of sampling method that is
probabilistic and non-probabilistic method. For the present investigation, research make use of
probabilistic method in which random sampling is chosen in order to gain information about the particular
topic. This method is chosen by investigator as it provide an equal chance to all the people and help in
gaining better results as well.
4.3 - Justify the methodology selected in terms of the research question
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In the Present research, it is analysed that investigator uses quantitative method in order to collect
primary information and gain understanding about the particular topic. It is determine that quantitative
method assist in gathering more accurate, clear and authentic information that help researcher in
developing positive and valid results. In addition to this, it is a objective centred and outcome oriented
method that help researcher in drawing positive conclusion and attain objectives within stipulated time
period.
5.1 Conclusion
Digitization is the way forwrad in every industry today especially banking as banks see a focus shift from
traditional way of banking to a digital way of banking. Based on the above study on Citibank Trade
Services, it is evident that digitalisation has already created huge impact on the growth of its customer
profile thus creating positive vibes across their Client Network. Citibank implemention Trade digital
initiatives that not only changed the banking perception in the UAE but also globally and the organisation
once again proved to be the front runner for innovation. Citibank top down vision of “being the best digital
bank” ensured that the organisation meets and exceeds customer expectations. The digital transformation
is an ongoing and ever evolving one and as we know any new evolution or change has its own positives
and negatives. Similarly the Digital transformation of Citibank is still an ongoing one and has some
concerns which need to be addressed and rectified to obtain smooth transition and implementation in
entirety. Citibank needs to plan its long term and short term goals appropriately in order to ensure seamless
transition. The issues need to be highlighted to management and clear roadmap with definite timelines
need to be set.
5.2 - Summarise the findings using suitable methods
From the secondary source that is literature review, it is find out that many organisations are
familiar with the digital technologies and there is increase in the consumption of digital technologies
globally. Most of the banks are able to provide high customer experience by using new digital technology
such as online services. The banks has launched their own applications that help customers to do
transaction in a while and also offer all the services at their home place. Using of digital technology is a
time consuming and convenient process which is easily adopt by large number of people. In addition to
this, it is also find out that there is positive impact of digital platforms on banks as it increase the client
base of banks and also decline of rush from banks which is difficult to handle from the banks. From the
primary data that is questionnaire, it is analysed that most of the people are comfortable in using digital
platforms. Along with this, it also help customer to save their time of transaction processing and has
positive influence on the working capital cycle of customers. Moreover, the clients of Citibank are
satisfied with the innovation bring by respective organization in the financial service sector.
5.4 Critically analyse the findings
From the above discussion, it is critically analysed that primary data collection method is more
effective in developing positive and valid outcomes. In addition to this, it help researcher to gain insight
original data about person views, opinions towards digital platforms in an effective manner. Moreover, it
help researcher to find out the needs or any improvements customer want from the particular company that
has positive influence on the performance of Citibank.
Recommendations
By analyzing the above data, some of the recommendations is given by the researcher to the higher
authorities of company and is given below:
 It is recommended to the managers of Citibank to provide training and development session to its
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employees regarding how to deal with customers who are using digital platforms for trading. It help
in making string relationship with customers and enhnace market image of organisation.
 IN addition to this, it is suggested that Citibank can take reviews from the customers after they use
such digital platforms as it help in making improvements and meeting with the requirements of
customer in an effective manner.
5.2 Recommendations
Further to address this gaps and issues, the management team should start working on the after measures
that are mentioned below:
1. Assess and manage all the expectations of existing and future potential customers/clients related to
digitization.
2. Analyse all potential threat that can be a disruption to the bank’s business from more digitally expert
competitors. This also conclusions stated. Recommendations seems missing.
nclude competitors that are outside the banking or financial services industry.
After understanding and addressing the above mentioned issues, Top management or senior executives can
start working around their plans with various stakeholder in identifying the right approach in extending its
reach in digital transformation within Citibank. Firstly, a strategy plan needs to be placed by the bank on
overall digitization and find the right method or system to start implementing the potential ideas or
initiatives across the whole organization within the region. Adopt to an effective leadership position and
clinch to the latest technology and innovations in the market, whereas competitors and others organization
may benefit through fast-learner strategy.
Citibank needs to plan its short-term goals accordingly and simultaneously may have to sacrifice some of
their short term goals in order to invest appropriately for their longer-term goals in digitization. In addition
to the above statement, Citibank must also consider on how the digital initiatives can be controlled or
managed. Based on the past experience, control and coordination of any project needs to be handled by a
dedicated projects team that will centrally look through every steps the bank takes towards digitization.
The dedicated team which may report directly to the top management or senior executive (CEO, CCO etc.)
has the authority to decide what kind of digital initiatives will take over within the organization at a
corporate level, and which will be decentralized and owned by individual business units.
Some banks have already defined a “head of digitization” role or have established an advisory board for
digitization efforts, responsible for coordinating and prioritizing the firm’s ongoing efforts. Finally, it is
critical to understand the cultural components of digitization. First, clients in different markets have
different expectations. For example, clients in the U.S. and Asia more commonly rely on a broker model
and are much more willing to share investment ideas and take advantage of networking platforms. In short,
they are more comfortable talking about money. By contrast, traditional clients in Europe prefer a high-
touch model with a long-standing advisor relationship, and they are generally far more private and less
willing to share financial information outside of such interactions. Global banks that have clients all over
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the world may need to tailor their digitization approach for individual markets.
Secondly, the cultural component is internal. Some very long-standing, established investment houses,
including many based in Europe, have a very traditional approach to client service and operations. These
firms are more likely to see digitization as a threat that they must defend against. In the U.S., by contrast,
new competitors are less bound by tradition and more likely to take advantage of technology to reinvent
the experience for clients. Neither is completely “right”; rather, banks must understand their heritage and
make sure that any digitization initiatives get integrated seamlessly into the existing corporate culture
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