Citi and Firethorn Holdings, a Qualcomm company, introduced Citi Mobile for Cards, an advanced mobile solution that allows Citi credit card customers to securely access real-time credit card account information on their mobile phones.
Citi Mobile for Cards is now available to AT&T subscribers as part of AT&T Mobile Banking, and to Verizon Wireless customers who download and use the free mobile banking application on Get It Now, the company said.
“Citi’s goal is to be everywhere our customers need us to be and interact with them however they choose - in person, online, while in transit or on their mobile phone. Citi Mobile for Cards is a testament to how Citi is innovating with mobile phone-based financial services to provide new experiences for customers,” said Raja Rajamannar, chief marketing officer, Citi Global Cards. “By collaborating with best in class technology provider Firethorn, Citi Mobile for Cards is uniquely positioned to meet our cardmembers’ demands for fast, secure, on-the-go account management through their mobile phones.”
Eric Bruno, senior vice president for consumer products at Verizon, said, “In these trying economic times, many customers want immediate access to their account information. By enabling Citi Cards within mobile banking, consumers get another useful tool in taking control over their financial lives. This is a big step forward for our shared customers.”
“This addition to our mobile banking solution gives shared AT&T and Citi customers simplicity and convenience in getting real-time information about their credit card accounts–and right as the holiday shopping season swings into gear,” said Mark Collins, vice president of Voice and Data Services for AT&T Mobility and Consumer Markets.
Firethorn chief executive officer, Tripp Rackley adds, “We are very pleased to be working with Citi, AT&T and Verizon Wireless to offer their customers a cutting-edge mobile solution. Firethorn’s commitment to the future of mobile commerce will extend the convenience and simplicity of the mobile device to Citi cardmembers nationwide.”
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According to a local media report, Oi (Telemar), Tele Norte Leste Participacoes plans to issue senior unsecured bonds worth USD1.5 billion in the foreign market. It is very well understood that the notes will be issued in three tranches, maturing in 2014, 2019 and 2038, respectively. The size of each specific placement will be determined at a later date and the funds raised will be utilized for the acquisition of fellow telecoms group Brasil Telecom – subject to the deal receiving the necessary regulatory go-ahead from the government. Citi, Santander, Bradesco’s investment bank BBI, BB Securities and Itau BBA will be the banks who are coordinating the issue.
Wireless Mobile Telecom Wireless News
Mobile Money Ventures LLC (MMV), a joint venture of Citi and SK Telecom announced that its solution for mobile financial services is compatible with Android™, a software stack for mobile devices that includes an operating system, middleware and key applications. Google™ and other players have collaborated on the development of Android through the Open Handset Alliance, a multinational alliance of technology and mobile industry leaders. This offering will enable financial institutions and carriers to offer customers the ability to use a comprehensive set of mobile financial services on Android-powered mobile devices.
As mobile devices continue to get more sophisticated, financial institutions (FIs) and carriers have the opportunity to enhance customer loyalty and enrich customer experience by delivering innovative applications, such as mobile banking. The Android-compatible application developed by MMV is such an application. It allows FIs to deploy mobile banking applications quickly with a platform that allows end users to use their mobile device to pay, track and manage finances – and take advantage of vendor rewards programs created specifically for wireless users.
Using their Android-enabled mobile device, end users will be able to easily download the financial application that will enable them to transfer money, check their accounts, get branch information, and carry out a Person-to-Person (P2P) transfer. Users will also have access to a stock monitoring feature that allows for real-time trading, portfolio management, and real-time market information. Other features include tracking receipts and expenses and a variety of payment functions.
“We are working closely with our financial institution and mobile carrier customers to deliver a secure, customizable product that will get to market quickly – and help transform the customer’s experience,” said Steve Kietz, CEO of Mobile Money Ventures, and executive vice president of Growth Ventures and Innovation for Citi’s Global Consumer Group. ”Mobile banking will revolutionize the industry in the next few years much the way ATM machines did in the 1980s. By capturing the power of Google’s Android software, our mobile banking platform will set a high standard for this emerging use of wireless technology.”
MMV’s Android-compatible solution features:
* Banking: Provides money transfer, account balance inquiries, location of local branches, and P2P transfer using a mobile phone number instead of the account number.
* Account management: Provides support while users are on the move. Compared to online banking services, users can actively monitor their financial status without being tied to a computer terminal.
* Payment: A variety of payment functions are provided to users including card payment, NFC payment, remote payment and mobile wallet (m-wallet).
* Stock monitoring: Provides real-time stock trading functionalities, portfolio management and real-time market information via mobile devices.
* Track deals and rewards: A two-fold feature: on one side, customers can track receipts and expenses; on the other is a mobile phone-based couponing and reward program.
To see a demonstration of MMV’s Android application at the Mobile Commerce Summit on June 23-24 at Caesar’s Palace, Las Vegas, please attend Kietz’s presentation at the summit on “Mobility as Part of the Bank’s Overall Business Strategy,” from 9:15-10 a.m. on June 23.
Google and Android are trademarks of Google Inc. All company and product names may be trademarks of the companies with which they are associated.
About Citi
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi’s major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.
About SK Telecom
SK Telecom (NYSE: SKM, KSE: 017670) is the top wireless communication provider in Korea, where it has more than 22 million subscribers taking up more than 50% of the total market. The company, established in 1984, reached KRW 11.28 trillion in revenue in 2007. SK Telecom was the first to launch and commercialized CDMA, CDMA 2001x,CDMA EV-DO and HSDPA networks, and it currently provides cellular, wireless internet, mobile media, global roaming service and more. For more information, please visit www.sktelecom.com.
For Best Practices/ Case Studies on Mobile Money - Banking, Remittances, Commerce & Payments. Please contact Christina@WirelessFederation.com
Citi and Firethorn Introduce Citi MobileSM for Cards (USA)
