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Citi and MMV launch mobile US trading capability in Hong Kong

14 October 2009  |  1048 views  |  0 Source: Mobile Money Ventures

Mobile Money Ventures, LLC (MMV), a leading global solutions provider of the next generation of mobile financial services, today announced it has rolled out the first mobile U.S. stock trading capability in Hong Kong with Citibank.

The new feature builds on the successful mobile platform deployed by the two companies last year, allowing Citibank`s Hong Kong customers to now trade on both the Hong Kong and American markets, including the New York Stock Exchange and NASDAQ.

"At MMV, we are constantly working to innovate and develop cutting edge features to ensure our customers can take advantage of the most advanced technology available," said Jayastu Bhattacharya, Senior Vice President of Strategic Business Development at MMV. "With our customizable and scalable platform MMV can quickly and seamlessly bring to market solutions that meet our customers` needs."

MMV initially collaborated with Citibank to launch a mobile banking platform in Hong Kong last October which included local stock trading, portfolio management, account inquiry and management, transfer and payments, and time deposit applications. As with all MMV solutions, the new U.S. trading feature is secured with SMS notification for every trading instruction, and no financial information is stored on the mobile device.

"At Citibank, the needs of our customers drive our innovation efforts and we understand how important it is for our Hong Kong customers to trade multiple markets through multiple channels. Through the collaboration with MMV, we`re proud to be the first bank in Hong Kong offering a mobile U.S. stock trading service," said Maggie Yung, Country Marketing Director of Citi Hong Kong.

The U.S. trading feature for Hong Kong customers joins a long line of innovative mobile banking deployments from Citibank and MMV, including the first browser-based offering in the Philippines as well as services in Singapore and the U.S. The two companies will be announcing additional deployments in Asia, the U.S. and Europe in the coming months.

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