Mobile Money Ventures LLC announced Wednesday that it has its first customer implementation, an application that customers of Citibank Hong Kong can download using mobile devices.
The San Francisco company, a joint venture of Citigroup Inc. of New York and SK Telecom Co. Ltd. of Seoul, said the initial set of services will include Hong Kong-based stock trading, real-time stock quotes, funds transfers to Citibank accounts using Citibank global transfers or a Hong Kong third-party account, bill payment from Citibank accounts, 90-day account histories for banking and credit card accounts, opening and renewal of time deposits for local and foreign currencies, and market and investment news.
More services will be launched at a later stage, the company said. It also said it plans this quarter to introduce a version of its application that works with the iPhone 3G from Apple Inc.
Steve Kietz, the chief executive of Mobile Money Ventures and an executive vice president at Citi, said in a press release, "We are working closely with our FI customers to deliver a customizable, secure and feature-rich offering that can be brought to the market quickly and enriches each customer's banking experience."