MMV and Citi launch m-banking in Philippines

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Mobile Money Ventures (MMV) has announced it has teamed up with Citibank to offer the first browser-based mobile banking solution in the Philippines.

Citi Mobile Banking allows customers to securely manage their banking needs from their mobile handsets at any time and from any location. Customers can check account information, pay bills, and transfer money by accessing the web-based banking platform on their mobile phones.

To ensure the highest level of security, MMV’s mobile solution utilizes two-factor authentication. In addition, no financial information is stored on the mobile device.

‘Citibank is proud to launch this new and innovative financial service to better serve our customers,’ says Sanjiv Vohra, country head, Citi Philippines. ‘Our customers are increasingly dependent on their mobile devices and MMV’s technology allows Citi to provide customers a way to access their bank accounts and conduct necessary financial transactions conveniently and securely regardless of time or location.’

‘We are committed to offering next-generation mobile solutions for financial institutions and have worked closely with Citibank in the Philippines to develop a comprehensive, customizable and secure platform that delivers a rich mobile financial services experience to users,’ comments Steve Kietz, CEO , Mobile Money Ventures, a joint venture of Citi and SK Telecom (MPW 113).

Citi is focused on driving innovation and making strategic investments in technologies such as mobile banking to create value for its customers and partners. The Philippines offering is the second of several planned by Citi and MMV in Asia. It follows the launch of a mobile financial services offering last year that provided Citibank Hong Kong customers basic banking features as well as Hong Kong stock trading and portfolio management.