Citi Indonesia chief executive Batara Sianturi, left, and Vincent C. Soegianto, Citi Indonesia head of treasury and trade solutions, introduce Citi MobilePASS. (Photo courtesy of Citi Indonesia)

Citi Introduces Passcode App to Make Online Banking Easier


FEBRUARY 20, 2017

Jakarta. US banking giant Citi launched a mobile application last year that makes it easier for corporate customers to conduct online transactions without the need for a separate physical security token.

A security token is a small hardware device used to generate dynamic passcodes, required to access bank accounts or conduct transactions.

The new app, known as MobilePASS, allows customers to obtain a dynamic passcode without having to be connected to the internet.

"MobilePASS is easy to use and improves the quality of the service for corporate users, ranging from the chief financial officer who needs to see a transaction analysis, the company's treasurer who needs to approve a transaction while on the go, or an employee who needs to conduct a transaction while at home," Keng-Mun Lee, Citi Asia-Pacific head of channel and enterprise services, treasury and trade solutions, said in a statement on Thursday (17/02).

The application is available for iOS, Android, Windows Phone and Blackberry in 80 countries, including Bangladesh, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand and Vietnam.

"We believe MobilePASS will provide added value for our clients," said Vincent C. Soegianto, Citi Indonesia head of treasury and trade solutions.

Users also can use PIN codes, swipe passwords, or fingerprint identification as additional security for mobile transactions.

Citi is the first global bank to introduce an online soft token system. Since its introduction, the app has been downloaded more than 10,000 times via smartphones and tablet devices.