Citi ditches physical tokens for app-based login to corporate platforms
27 January 2017 | 13127 views | 0
Citi is replacing physical tokens with an app-based mobile log-in for authentication of corporate treasury professionals logging in to the bank's online platforms.
CitiDirect BE via MobilePASS is an app-based soft token that enables clients to use their own smartphones to generate dynamic passcodes without any network connectivity when connecting to the bank's e-banking platforms.
Traditionally, corporate users were required to carry a physical hardware token to generate login passcodes. The bank says MobilePASS combines faster logins and strong security to provide a more convenient omni-channel institutional banking experience.
Keng-Mun Lee, Asia Pacific head of channel and enterprise services, Treasury and Trade Solutions, says: "MobilePASS is easy to use and improves the login experience for users of all levels within the organisation—from CFOs who need to view transaction analytics, to corporate treasurers who approve transactions on-the-go, to personnel who need to connect from the office or work from home."
Soft-launched in selected Asian locations last year, the system has already been used to generate over 10,000 log-ins, with roll out to new markets in Australia, Hong Kong, New Zealand and Taiwan set to commence throughout 2017.