Citi launches app-based login solution for corporate clients

Clients no longer need a separate physical token.

In a release, Citi announced the launch of 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, including CitiDirect BE, CitiDirect BE Mobile and CitiDirect BE Tablet.

Traditionally, corporate users were required to carry a physical hardware token to generate login passcodes, which act as secure authentication to access their accounts and transactions on CitiDirect BE. A separate physical token is no longer necessary with MobilePASS, which is available on all smartphones. MobilePASS combines faster logins and strong security to provide a more convenient omni-channel institutional banking experience.

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 their login process, whilst complying with applicable local regulatory requirements.”

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 and 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 to its multinational corporate clients across 80+ countries globally. In Asia, MobilePASS is now available in Bangladesh, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand and Vietnam. Throughout 2017, it is expected to be launched in other Asia markets, including Australia, Hong Kong, New Zealand and Taiwan.

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, CitiDirect BE was ranked first in 2016 by Greenwich Associates’ Digital Banking Benchmarking Study for the 10th consecutive year.