Citi’s mobile service for corporates adds new language options & breaches $1bn mark

1 March 2012

The CitiDirect BE Mobile service, developed by its Global Transaction Services unit, has processed a trade taking its total transaction value above $1 billion for the first time. The browser-based application, which is being rolled out to new countries throughout the year in addition to the 80 territories it is already available in, is accessible on all the major operating systems via tablet or smartphone devices and now has Romanian and Russian language options.

CitiDirect BE Mobile allows corporate clients to check balances and payments via SMS text alerts or online and to release trade authorisations while on the move. New features recently added as part of the on-going rollout include Romanian and Russian language options, in addition to the previously available Chinese, English, Polish, Portuguese, Spanish and Turkish options. According to Naveed Sultan, global head of treasury and trade solutions at the bank, “it is important that we are able to provide mobile solutions that allow clients to do more and benefit from all the efficiencies that would be available to them at their desk top. These new [language] features are doing just that.”

More than 300,000 users, across 50,000 corporate clients have so far signed up to the CitiDirect BE Mobile service, although it is likely that most were existing clients as most banks are now offering such mobile services and it is increasingly a necessity and no longer a ‘pull factor’ towards new clients.

Developed by the Citi Innovation Lab Dublin, in conjunction with the CitiDirect technology team, one of the first launch customers for the mobile service was Avolon in Ireland. Andy Cronin, chief financial officer (CFO) & head of capital markets at Avolon Ireland, is happy with the results, pointing out that in a globalized market with extensive travel and 24 hour operations, “the mobile functionality has proven a reliable and efficient tool. It offers greatly improved access to our payments system, while preserving control of the matrix of authorities. Having implemented the system in the past few months, it is already a core feature of our cash management.”

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