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Banking & Finance

Citi launches new digital solution

Released at: 16:00, 06/02/2017 BUSINESS SPOTLIGHT

Citi launches new digital solution

Photo: Citi

Corporate users will no longer have to carry physical tokens.

by Linh San

Citi has launched MobilePASS, a new digital solution that eliminates the need for corporate users to carry physical tokens for logins.

MobilePASS is an app-based soft token that enables users to leverage their own smartphones to generate dynamic passcodes without any network connectivity to log into Citi’s award-winning range of institutional e-banking platforms. These platforms include CitiDirect BE®, CitiDirect BE®Mobile and CitiDirect BE®Tablet.

Accessing MobilePASS is fast and easy – existing or new CitiDirect BE® users can download the app on their smartphone from the Apple App, Blackberry World, Google Play or Windows Stores. Users can also employ additional mobile device security features, such as PIN, swipe and fingerprint ID, to further secure MobilePASS on their smartphones.

Citi was the first global bank to launch a soft token smartphone solution for its multinational corporate clients across 80+ countries globally. In Asia, MobilePASS is now available in Vietnam, Bangladesh, India, Indonesia, Japan, Malaysia, the Philippines, Singapore, South Korea, Sri Lanka and Thailand. Throughout 2017, it is expected to launch in other Asian markets, including Australia, Hong Kong, New Zealand and Taiwan.

Mr. Keng-Mun Lee, Asia Pacific Head of Channel and Enterprise Services, Treasury and Trade Solutions said, “this solution is an important part of our continuous effort led by Citi Innovation Lab to bring best-in-class digitized experience to our clients. MobilePASS is easy to use and improves the login experience for users of all levels within the organization – from CFOs who need to view transaction analytics, to corporate treasurers who approve transactions on-the-go, to personnel who need to connect from the office or work from home. In addition, it enhances the security of the login process, while complying with applicable local regulatory requirements.”

Since its soft launch last year, Asia’s technology-savvy corporate users have embraced MobilePASS, having used it to securely log into CitiDirect BE®, Mobile or Tablet over 10,000 times to-date.

CitiDirect BE®, Citi’s proprietary institutional e-banking platform, is available across 95 countries in 26 languages and transacts in 140 currencies. It provides a single, centralized point-of-access for corporate clients to a full range of global cash, trade, liquidity and investment services.

Citi’s unrivaled platform supports 525,000 users with over 340 million transactions annually valued at more than USD 48 trillion.  Constantly innovating, CitiDirectBE® was ranked first in 2016 by Greenwich Associates’ Digital Banking Benchmarking Study for the 10th consecutive year.


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