{"id":465,"date":"2013-09-20T15:28:03","date_gmt":"2013-09-20T15:28:03","guid":{"rendered":"http:\/\/www.nationaltransaction.com\/credit-card-merchant\/?p=465"},"modified":"2013-09-20T15:28:03","modified_gmt":"2013-09-20T15:28:03","slug":"citi-expands-real-time-mobile-services-for-banks","status":"publish","type":"post","link":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/citi-expands-real-time-mobile-services-for-banks\/","title":{"rendered":"Citi expands real-time mobile services for banks"},"content":{"rendered":"
\"Mobile<\/a>

Credit: Flickr<\/a><\/p><\/div>\n

Citi expands real-time mobile services for banks<\/h1>\n

Citi is ramping up its mobile strategy for banks, which are increasingly looking for real-time access to financial information such as payment status. CitiDirect BE, the company\u2019s online banking platform for financial institutions, has launched two new mobile applications. The Mobile Payment Advisor app enables users to track the status of a payment at any time from any mobile device while the Payments Directory Mobile app provides a database of institutions worldwide that participate in U.S. dollar clearing.<\/p>\n

\u201cIn existing scenarios, banks rely on servicing tools set up between different correspondent banks to determine the status of their payments.\u201d Citi\u2019s mission is to provide payment status to a larger group of users by offering readily available access points. The result is an enhanced service experience for banks, delivered by a provider aligned to their own objectives.<\/p>\n

Payment Status<\/strong>
\nThe feedback Citi has received from its financial institution clients indicates that real-time access to payment status is an important feature they are looking for. With this in mind, the CitiDirect BE Mobile Payment Advisor enables banks, their customers, or third parties to track the status of a payment at any time and from any mobile device, similar to tracking the status of a package. Users will be able to check the up-to-the-minute status of a payment online within seconds. \u00a0The app requires no installation or user credentials. Users enter the sender reference, amount, currency and value date to search for payment status. The app will also help Citi streamline internal operations by cutting down on the number of calls service centers receive regarding the status of a payment. Citi reports that currently the majority of phone calls to a given service center are payment status inquiries. Such calls can take several minutes to complete and involve multiple parties.<\/p>\n

Next Mobile Frontier<\/strong>
\nThe Payments Directory Mobile app addresses the need to simplify the process of choosing from one of thousands of correspondent banks to route a payment. \u201cCiti has at its disposal a vast repository of information to determine the best route of making a payment successfully, across multiple geographies.\u201d This information is available to clients in physical form, \u00a0CD-rom, through an electronic banking platform, and making it available on a mobile platform was a logical extension for sophisticated and innovation-focused client base.\u201d Users can quickly search for clearing intermediaries with filtering preferences. With businesses executives having a mobile device nearby almost all the time, Citi recognizes that corporate apps are the next frontier for mobile. As such, the company is mobilizing its online banking applications little by little as part of its overall digital strategy. \u201cIn the payments space within correspondent banking, mobile tools have been launched to very receptive and excited clients.\u201d These new channels allow them to harness Citi\u2019s global presence and expect an upward trend in adoption of these tools by significant financial institutions client base.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Citi expands real-time mobile services for banks Citi is ramping up its mobile strategy for banks, which are increasingly looking<\/p>\n

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