Citibank Hong Kong Using Mobile Money Ventures Platform

MMV's device and network independent mobile financial services solution allows Citibank Hong Kong customers to manage their banking - account inquiry and management, transfer and payments and time deposit applications - and stock trading - order (buy and sell), pending order management, stock quotation and portfolio management - from wherever they are at anytime using their mobile phone. MMV's mobile financial services platform is comprehensive, robust and highly secure, with the secured mobile transactions ensured by twin factor authentication.

Maggie Yung, country marketing director, Citibank Hong Kong, said, "Citibank Hong Kong is proud to provide this best in class mobile offering. Our customers are increasingly asking for the freedom to manage their money anytime, anywhere, and MMV's technology provides us with the ability to give our customers the mobile solutions they are asking for today and the flexibility to enhance our mobile offering over time, creating a superior customer experience."

"MMV's solution allows financial institutions and wireless carriers to harness the mobile channel and deliver innovative mobile banking applications to their customer base," said Steve Kietz, CEO of Mobile Money Ventures, and executive vice president of Citi Innovation. "Our work with Citibank Hong Kong to develop and deliver a customized mobile banking application that takes advantage of iPhone 3G innovations reinforces our mission to help our customers leverage new growth opportunities and increase customer loyalty."

Debby Hopkins, Chief Innovation Officer, Citi, stated, "Citi is committed to providing our customers with solutions that enable them to interact with their bank wherever they are and however they choose - in person, online, while in transit or on their mobile phone. Citi formed MMV with our partners at SK Telecom to create a common, global mobile financial services platform and today's announcement with Citibank Hong Kong marks a key milestone in the venture's success."

MMV supports and has certified a variety of handsets sold in Hong Kong as capable of supporting mobile banking services. It offers a unique maintenance and support program for its customers that includes 24/7 mobile experts support "on site" for the highest quality of service, technical "troubleshooting" advice via a customer Help Desk and the facilitation of training programs.

MMV is one of the many innovative initiatives Citi is embarking upon around the world. In addition to mobile, Citi is developing and delivering products and services for customers who commute via public transit, manage their money online, and are seeking a more convenient retail branch experience. Citi's goal is to be everywhere its customers need it to be by providing a superior customer experience by offering innovative, industry-leading products and services that drive its customers' success.