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Fintech News that focuses in on Security

Citi launches biometric authentication for institutional clients in Latin America

Source: Citi

Citi’s institutional clients can now use fingerprint or facial recognition to securely access CitiDirect BE® Mobile in Bahamas, Barbados, Brazil, Colombia and Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Haiti, Honduras, Jamaica, Nicaragua, Paraguay, Peru, Puerto Rico, Trinidad and Tobago and Uruguay.

CitiDirect BE Mobile is an award-winning digital banking platform for institutions on mobile and tablet devices that empowers quick and convenient access to cash management and trade services.

First piloted in the region in 2018, CitiDirect BE® Mobile offers clients a fast, simple and secure banking experience. Through the app, a client can authorize payments, view balances and cash positions, and manage users. The app and biometric authentication capability is being introduced in additional markets throughout the region.

Designed in partnership with clients, the biometric solution enables authentication in mere seconds and serves as an additional alternative for secure access to accounts. Prior to the new solution, clients would use MobilePASS - an app-based digital token - or physical tokens to first generate dynamic passcodes before accessing their accounts.

“We continue to digitize our business to offer solutions that provide value to institutional clients to remain efficient and competitive,” said Steve Donovan, Latin America Head of Treasury and Trade Solutions.

“CitiDirect BE® Mobile, coupled with biometric authentication capability, now enables clients to manage their institutional banking needs anytime and anywhere,” said Driss Temsamani, Latin America Head of Digital Channels and Data, Treasury and Trade Solutions.

Institutional clients are increasingly embracing mobile. Over the past two years, over US$46 billion of payments processed by Citi’s Treasury & Trade Solutions business in the region were approved using mobile devices.

CitiDirect BE® is available in 95 countries worldwide, across 26 languages and over 135 currencies. The platform provides a single point of access for institutional clients to Citi’s full range of global cash, trade, liquidity and investment services.

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