Citigroup plans to simplify its mobile login services for treasury management and trade clients.
A new app provides clients digital tokens on their own smartphones to generate temporary passcodes. Traditionally, users were required to carry a small gizmo to generate the login passcodes necessary to access their accounts and transactions.
The move is part of a trend in banking toward developing high-tech services for businesses that mimic the conveniences already enjoyed by consumers without jeopardizing security.
For clients who lack smartphones, Citi said text and one-time voice codes are also available.
Mobile users can take advantage of other security features, such as PIN, swipe and fingerprint ID, to do business, Citi said in a press release Tuesday.