Mobile Money Ventures Teams With Citibank to Launch First Browser-Based Mobile Banking Offering in the Philippines

MANILA, Philippines & SAN FRANCISCO--(BUSINESS WIRE)--Mobile Money Ventures, LLC (MMV), a leading global solutions provider of the next generation of mobile financial services, today announced it has teamed up with Citibank to offer the first browser-based mobile banking solution of its kind in the Philippines. Citi Mobile Banking allows customers to securely manage their banking needs from their mobile handsets at any time and from any location.

“We are committed to offering next-generation mobile solutions for financial institutions and have worked closely with Citibank in the Philippines to develop a comprehensive, customizable and secure platform that delivers a rich mobile financial services experience to users”

Customers can check account information, pay bills, and transfer money by accessing the web-based banking platform on their mobile phones. To ensure the highest level of security, MMV's mobile solution utilizes two-factor authentication. In addition, no financial information is stored on the mobile device.

“Citibank is proud to launch this new and innovative financial service to better serve our customers,” said Sanjiv Vohra, Country Head and Citi Country Officer for the Philippines. “Our customers are increasingly dependent on their mobile devices and MMV’s technology allows Citi to provide customers a way to access their bank accounts and conduct necessary financial transactions conveniently and securely regardless of time or location.”

“We are committed to offering next-generation mobile solutions for financial institutions and have worked closely with Citibank in the Philippines to develop a comprehensive, customizable and secure platform that delivers a rich mobile financial services experience to users,” said Steve Kietz, CEO of Mobile Money Ventures, a joint venture of Citi and SK Telecom.

Citi is focused on driving innovation and making strategic investments in technologies such as mobile banking to create value for its customers and partners. The Philippines offering is the second of several planned by Citi and MMV in Asia. It follows the launch of a mobile financial services offering last year that provided Citibank Hong Kong customers basic banking features as well as Hong Kong stock trading and portfolio management.

About Mobile Money Ventures

Mobile Money Ventures, LLC (MMV) is the leading global solution provider of the next generation of mobile financial services applications. Built on the financial services and technology leadership of Citi and SK Telecom, MMV delivers the future of mobile banking with its comprehensive, customizable and secure platform. MMV’s turnkey solution enables financial institutions (FIs), carriers and partners to reduce time to market, leverage new growth opportunities and enhance customer loyalty. MMV is FI and carrier agnostic. Mobile Money Ventures is headquartered in San Francisco, California. For more details, visit www.mmventures.net.

About Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citi provides 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. Additional information may be found at www.citigroup.com or www.citi.com.