Citi launches biometric authentication for institutional clients in Asia-Pacific
Clients across selected markets in the region can now use fingerprint or facial recognition to access Citi’s institutional banking platform on mobile
Citi’s institutional clients in China, India, Singapore, Thailand and Vietnam can now use fingerprint or facial recognition to access their CitiDirect BE® Mobile App, Citi’s digital banking platform for institutions on mobile.
First piloted with select clients in the region in 2018, the app enables clients to authorize payments, view balances and cash positions, and manage users. The app and biometric authentication capability will be separately introduced in additional markets in the region progressively.
Designed in partnership with clients, the biometric solution enables authentication in mere seconds and serves as an additional alternative for secure access to accounts. Prior to the new solution, clients would have to use MobilePASS – an app-based digital token – or physical tokens to first generate dynamic passcodes before accessing their accounts.
“We continue to digitize our core offerings, incorporating a design thinking and client-centric approach to offer solutions that provide real value to institutional clients. It is imperative that institutions adopt new mobile technologies to remain efficient and competitive. The CitiDirect BE® Mobile App, coupled with biometric authentication capability, now enables clients to manage their institutional banking needs anytime and anywhere,” says Keng-Mun Lee, Asia Pacific head of channel and enterprise services, treasury and trade solutions.
Capgemini India Treasury Director Saravanan Sokkalingam says, “Citi has brought a user experience akin to consumer banking to corporate clients with the necessary security features in place. This has enabled me to seamlessly approve transactions with added convenience.”
Shakira Suwan, CEO of The Green Lion in Thailand, adds, “I appreciate being able to authorize transactions in seconds. The biometric authentication feature is easy to use and the CitiDirect BE® Mobile App is clear and simple.”
Institutional clients are increasingly embracing mobile. In 2018, Citi saw a 20% year-on-year increase in the number of mobile users on Citi Direct BE® in Asia Pacific. Over the past two years, over US$2.5 trillion of payments processed by Citi’s treasury & trade solutions business in the region were approved using mobile devices.
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16 Apr 2019