Citi broadens mobile services for corporate customers

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.

Citi sign
A Citi logo appears on a sign above a Citibank branch in the ground floor of Citigroup Inc. headquarters in New York, U.S., on Monday, April 19, 2010. Citigroup Inc. said profit more than doubled as the global economic rebound trimmed costs for bad loans, trading revenue surpassed analysts' estimates and the value of subprime mortgage bonds increased. Photographer: Daniel Acker/Bloomberg

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.

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Bank technology Mobile banking Commercial banking Device security Tokenization
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