ABSTRACT
Targeting retail services, Citibank became the only foreign bank to present a direct challenge to Japanese banks in their home market. A maverick, Citibank constantly sought to shake up the status quo, whether at home or abroad. As part of the strategy, Citibank became the first foreign bank to tap into a Japanese automated teller machine (ATM) network, providing customers with access to 23,000 machines, and the first to have 24 hour ATM service. Citibank’s activities demonstrated that, while limitations existed, they could be circumvented through a combination of skill, nerve, and tenacity. By most measures, Citibank represents the preeminent bank in the United States. Citibank became the first US bank to truly see the need for a worldwide network of branches. By the mid-1960s, however, Citibank began deliberately exporting domestic skills to overseas offices. Operations in Japan underwent significant expansion, particularly after the First World War.
