Citigroup Inc. announced Monday that it has developed a mobile banking application that is compatible with Google Inc.'s upcoming Android operating system for wireless handsets.
Citi said it would offer the downloadable application through Mobile Money Ventures LLC, the joint venture it formed in March with SK Telecom Co. Ltd., South Korea's largest wireless carrier.
The Android application will enable users to check their accounts, transfer money between accounts, retrieve branch information, and execute person-to-person transfers. It will also offer stock monitoring, trading, and portfolio management features and a variety of payment functions, Citi said.
Since introducing its mobile banking application in April 2007, Citi has focused on making it compatible across many handset types. The Android operating system, spearheaded by Google, involves more than 30 software firms, handset makers, and wireless operators working together. Google has said it expects to introduce the software in the second half; The Wall Street Journal reported Sunday that phones using Android were not likely to be available until the fourth quarter.
