Citi introduces biometric authentication for business clients in Asia
Citi’s institutional clients in China, India, Singapore, Thailand and Vietnam can now use fingerprint or facial recognition to access their CitiDirect BE Mobile App, a digital banking platform for institutions on mobile. First piloted with select clients in the region in 2018, the mobile app is designed to offer clients a simple and secure banking experience. Through the app, a client can authorise payments, view balances and cash positions, and manage users. The app and biometric authentication capability will be separately introduced in additional markets in the region progressively.
Designed in partnership with clients, the biometric solution enables authentication in seconds and serves as an additional alternative for secure access to accounts. Prior to the solution, clients would have to use MobilePASS – an app-based digital token – or physical tokens to first generate dynamic pass codes before accessing their accounts.
In other news, Citi Treasury and Trade Solutions have announced a strategic partnership with Vietnam-based intermediary payment service provider Payoo to facilitate collections for corporate clients in the country.
Under the partnership, Citi’s corporate clients in Vietnam will be able to receive real-time payments from their customers for services including utilities, telecommunications and credit card bills through Payoo’s digital network and physical footprint of over 10,000 brick-and-mortar touch points.