Banking on your mobile

We all know how Filipinos are so attached to their mobile phones. But just how attached? Melissa Henson, Citibank VP for eBusiness regional consumer banking, cites studies that say “People who accidentally leave their wallets at home will not go back to get them, but if they leave their cell phone, they will go back to their house.”

That’s how important a mobile phone is to people. They will probably drive their cars without a license (which is in the wallet they left at home), but they will not go through the day without their cell phone.

“What we naturally expect to happen is that the utility of the phone will expand,” Henson says.

It already has. In view of the growing market for smartphones, Citibank launched its mobile app on three platforms: The first was for Android phones in October last year, the iPhone version in December, and the Blackberry version in February this year.

“The mobile app is a very natural product for the local market,” says Henson. “In line with our digital innovation, we pursued online banking ahead of other players on the market and now we’re pursuing the mobile area. We’ve had Citibank online since 2001 and we actually currently have the broadest set of functions available on the Internet. Now we have just introduced a mobile application that functions on different platforms.”

The app is essentially Citibank online that’s accessible on and designed for your smartphone. You can check your balance, transfer funds, redeem rewards, pay bills, check rebates, etc. But what’s exciting about the app is that it’s equipped with location technology. It can check where you are, so you just press the “ATM location” widget or Citi’s restaurant promotions and it will find the nearest branches and promotions within a three to five kilometers radius.

Plus, you can select your location. The app covers Asia, so if you’re in Hong Kong or Singapore or Bangkok, and you want to know the Citi promos in shopping stores and restaurants, it will show you all the offers there.

“It’s a common implementation across the region but we have tweaked ours to suit the local market so it’s relevant to our customers here,” says Henson. “But if you look at the apps store, we have counterparts in Malaysia, Indonesia and Thailand.”

Aneth Lim, Citibank country corporate affairs director, says, “In the same way that when their customers are in the Philippines, they can use their app to locate services and offers here. We are all riding on that common platform so anywhere you move around in the region you will see the same thing. When you’re traveling you can also check branches nearest your hotel.”

The application was released in Asia initially, but a cross-region app in the future is not far off. “Banking has evolved. It’s become part of your lifestyle. When we were designing the app we took that into consideration. Let’s say even if we send our cardholders brochures about our promotions, they don’t recall each and every single offer. But with this app, it’s so easy to locate which one offers the best value to you.”

Citibank Consumer eBusiness director Roy Villareal adds, “We’re really putting the customer in the center. We launch a lot of promotions — every week — especially in shopping and dining. And that’s what people do: They go out, they shop and eat. So with this one wherever you go you will find the right restaurant that suits you and at the same time get some benefits that only Citi can give. With this in mind, we provided an app so our customers no longer have a hard time remembering the promotions. It’s right here in your palm, it’s location-based.”

While the local market is admittedly not yet that tech savvy (unlike, say, Korea), “Citi is really investing a lot on technology and putting ourselves in the forefront — not just for now but for the future — to be the most trusted digital bank in the Philippines and globally,” says Villareal. “I know a lot of companies are going online as technology advances but at the same time it’s really hard to put all the elements that customers want. We’re investing in this heavily and definitely the returns on our investment are not happening today. It’s going to be three to five years when the market is ready, and we’re already here — we were here first.” 

Citi’s Internet traffic for online transactions is about 200,000 customers. For mobile banking, they expect a lot more because mobile penetration here is higher than computer. “It’s a busy world out there, you don’t want to line up or spend on gas and sit in traffic just to pay your utilities.

“Technology has made banking services ubiquitous, resulting in unparalleled convenience. Our investment in these platforms is in line with our commitment to continue to drive innovation in the banking industry, where we already enjoy a strong track record of success,” related Sergio Zanatti, consumer business manager for Citibank.  “This launch bolsters our claim that Citi services are available to our clients anywhere and anytime, now through whichever communication channel they prefer – be it landline or mobile phone, smart phone or Internet.”

The Citi app is free, no expense at all to the user. Just download it on your smartphone and it works on both 3G and WiFi. To download the app on Android phones, go to the marketplace application and search for Citibank Philippines. Select Citibank PH from the results list then click download. Once successful, the Citi Mobile icon will appear on the phone’s home screen.

For iPhone users, go to App Store and search for Citibank Philippines. Select Citibank PH then click install. The Citi Mobile icon appears on the home screen after installation. This can also be installed in the iPod Touch.