* Terms and conditions of Citibank service are not well disclosed[1] + [2]
some(prenominal) services terms and conditions are not clear or represented to the costumer when purchased . Some term and conditions are to be found between the lines or when the costumer inquiry intimately them.
* High Service Fees[3]+[4]
Relatively more fees for retail banking in comparison with other competitors. These fees might lead to a wing by loyal or potential costumers.
* Branding Problem[4]+[5]
With the parsimony crisis the brand name was know and recognized by common non investor customers as a supermarket- of many financial activities that got affected by the crisis for supporting many financial services and products creating a disdain for those type of costumers who seek limited type of services or products.
Another issue is when the brand name was replaced for other non Citibank costumers to allay its online services under another name . Eventually the main service provider name (citi) disappeared from potential customers minds.
* Online banking issues[6] +[4]
Difficulties implementing new technological e-business approaches which are represented in websites and sassy phones and pads applications. such issues were concerned about confidentiality , security and reliability.
Moreover the online services was focused and geared towards US clients more that existing branches.
short internal controls (7)
The OCC said it found, without an admission or denial from Citi, that the bank had inadequate internal controls and ineffective independent testing. The bank alike didnt develop adequate due diligence of outside correspondent banking customers doing remote transactions, resulting in the failure to file timely suspicious activity reports, the agency said.
References:
[1] http://articles.latimes.com/2011/nov/10/business/la-fi-lazarus-20111111
[2] http://articles.latimes.com/2012/jun/19/business/la-fi-lazarus-20120619
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