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2006-10-22 15:32:49 · 4 answers · asked by JT 1 in Arts & Humanities History

4 answers

The word was coined by the marketing department or advertising agency for what is now Citicorp in the mid-1970s.

Before that time, the First National City Bank (FNCB) was one of the largest banks in New York (along with Chase Manhattan) and one of the largest in the United States (along with the California-based Bank of America).

In the 1970s, several important changes occurred in the banking business. Laws restricting interstate banking were relaxed. The automated teller machine (ATM) was introduced, along with merchant authorization systems for bank credit card transactions. There was much consolidation in the bank card business, with Master Charge (now MasterCard) and the BankAmericard (renamed Visa) emerging on top. Chase was a Master Card bank, and B of A owned its BankAmericard.

In this competitive environment, FNCB, under the leadership of chairman Walter Wriston and spurred by technology guru (and later CEO) John Reed, reinvented itself. In the technology area, it developed its own mag stripe standard (which ultimately failed); issued "Citicards" to customers requesting them for use in experimental ATM machines (at first, there were only six -- all located in Manhattan); and tried to sign up merchants to accept "Citicards" in retail payment. In the banking area, they expanded, via the holding company, into other states. (Citibank South Dakota seems to be the credit card flagship.)

And for organizational and image purposes, the bank holding company renamed itself "Citicorp," with the bank (formerly FNCB) becoming "Citibank." Their advertising slogan was, "The Citi Never Sleeps."

Although it's usually used as a prefix, I'm sure Citicorp has "Citi" trademarked.

So that's where the word came from.

2006-10-22 18:08:18 · answer #1 · answered by bpiguy 7 · 0 0

Greek POLIS, or citi
example: Athens, Sparta, Rome, Babylon, Jerusalem
citys and states

2006-10-23 14:12:58 · answer #2 · answered by eg_ansel 4 · 0 0

if you mean City, the origin is Old English (Cite) from the Latin Civitas (citizen)

2006-10-22 23:02:05 · answer #3 · answered by Squid Vicious 3 · 0 0

There's no such word. Want to try again?

2006-10-22 22:42:58 · answer #4 · answered by banjuja58 4 · 0 0

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