Accelerating urbanization, globalization and digitization are revolutionizing how people live, work and communicate their expectations and aspirations. Local governments and city authorities are tasked to facilitate growth, efficiency and innovation to create an environment that is attractive to employers, investors and citizens. Please visit www.citiforcities.com to find out the latest information on what Citi is doing in cities.
From the historic capitals of the developed world to the fast-emerging megacities of the world's most vibrant economies, 70% of the world's population are expected to live in cities by 2050. This is leading to huge demands on city authorities to create reliable, cost-effective and sustainable infrastructure such as water supplies and other utilities, transport and telecommunications, and social requirements such as schools, housing and healthcare, which requires both investment and a robust delivery capability.
Rapid growth in cross-border business and travel means that companies' and individuals' aspirations are no longer restricted to their own locality or nation. With unprecedented access to news, ideas and opportunities globally, corporations and citizens are demanding services that are comparable with other parts of the world in order to remain competitive.
Manual, paper-based and resource-intensive processes are costly, error-prone and cannot be scaled to meet growing demand for services. City administrators, many of whom are already facing budget pressures and competing priorities, can realize significant advantages by reviewing and reforming how they manage their operational processes, including document management, payments and collections. From electronic tax collection to benefit distribution, mobile or card-based payment for services such as transport and parking, and automated internal processes such as payroll, there are opportunities to enhance the provision of services whilst reducing costs.