For Immediate Release
Citigroup Inc. (NYSE: C)
July 12, 2010

Citibank Malaysia Launches Industry-First Mobile Banking Platform


Aims to attract 250,000 customers in the next 24 months

Kuala Lumpur, Malaysia – Citibank today launched its mobile banking service, an easy and simple solution that is tailored to meet customers’ banking needs on the go, anytime, anywhere.

Known as Citibank Mobile, this comprehensive mobile banking solutions suite provides customers with transactional banking services and real information on their mobile phones. It allows all customers who have internet access on their mobile phones to carry out transactional activities, including funds transfers and bill payment via their handheld devices. It is browser-based and seamless, requiring no registration or software download.

This cutting-edge mobile banking platform is secure, user-friendly and highly intuitive, and is expected to grow to 250,000 users in the next 12-24 months. Currently, Citibank has more than 120,000 mobile banking customers.

“The launch of the Citibank mobile banking platform is timely as it fits extremely well into the current mobile space especially as smartphone users are growing in numbers and data packages are becoming extensive and more readily available at competitive prices,” said Roy Heong, Citibank’s Head of Alternate Channels and e-Business. “We are capitalizing on this backdrop to offer our customers’ secure, quick and effortless convenience to conduct their banking transactions including fund transfers between banks and paying bills while on the go. Banking is becoming increasingly mobile and not constrained by location and operating hours.”

Roy Heong said that Citibank currently owns more than a 20 percent market share of the mobile banking space, and targets to achieve more than 100 percent growth by 2012. He believes that the mobile banking market in Malaysia, which has been growing exponentially over the last 36 months, offers opportunities to engage current and potential customers with convenient and secure mobile banking services.

Data obtained from the Malaysian Communications and Multimedia Commission (MCMC) indicates that mobile phone penetration has jumped to 106 percent of the total population. 3G/HSDPA (High-Speed Downlink Packet Access) technology has exceeded 4Mbps speed in 2010. 3G mobile data usage has also increased to 15 percent in 2008 from just 1 percent in 2006 and is projected to rise to 35 percent in 2010 and 50 percent in 2011. In a recent research of total internet users surveyed in Malaysia, 11 percent have accessed the internet via their mobile handsets.

“In today’s information age, savvy consumers view online banking as a need, and not an option as it saves them time and increases their efficiency, due to their busy schedules. We are seeing a surge in demand and reliance on mobile phone technology, especially among the young and tech savvy. Extending this to offer mobile banking services is highly relevant since the mobile device is constantly with customers at all times. To digital savvy customers, this is an important differentiator and important consideration,” stated Heong.

Rajesh Yohannan, Regional e-Business Head for Citi Asia Pacific, who was present at the launch, said, “The mobile banking industry is set of steady growth, as trends already indicate that by 2011, there will be 150 million people worldwide who will access banking on their mobile, 53 percent of these will be in Asia.1 We’re also seeing smartphones having a high growth rate, given the very high adoption rate. Moving forward, we believe that the mobile phone will be the new PC and internet usage on the mobile will also likely to increase significantly. As such, Citi’s strategy will continue to focus on delivering high quality customer experience, anytime, anywhere through smart phone devices.”

Essentially, Citibank Mobile is a customized version of Citibank Online that has been optimized for standard mobile devices, including the iPhone. Citibank customers can use the same Citibank Online login access with their username and password to manage their bank, card, and investment accounts through their mobile phone. Customers will be able to view account summary and detailed transactions; make bill payments to over 50 merchants in Malaysia; allow mobile reloads for Maxis, Digi and Celcom prepaid accounts, transfer funds 24x7 between Citibank accounts and non-Citibank (local bank) accounts, facilitate B2B payments from dealerships to distributors, and locate Citibank ATM / branch locations.

Banking with Citibank Mobile is a secure process with end-to-end 128bit strong encryption. Transactions are monitored by Citibank in-house fraud monitoring system (Banking Advanced Fraud Early Warning Services - AFEWS). In addition to this, a yearly vulnerability assessment will be continuously carried out on Citibank Mobile to ensure up-to-date security parameters.

One of the key benefits of Citibank Mobile is that customers do not need to install any application or remember sms codes; no upgrade versions are required as it takes up very little space on the phones, and the intuitive interface is simple to understand and fast to transact.

“Citibank is moving beyond just physical and internet banking,” said Heong. “We are constantly innovating to make banking simpler, faster and more convenient for our customers. We studied the mobile market and customer trends in using mobile phones for work, business and leisure. We believe our newest banking platform, Citibank Mobile, is a best-in-class proposition as it offers customers the opportunity to enjoy innovative, easy-to-use, intuitive, secure and fast service in an environment where many of us multi-task and are time-challenged. Banking has evolved into an activity that can be completed in little pockets of time we have anytime throughout the day.”

A leader in the mobile banking market since 2000, Citibank has in place Mobile Bill Payment, Citi Alerts, Citi Mobile Prepaid Reloads and Citibank World Privileges on Mobile. Citibank also sends out early SMS spending alerts to minimize incidences of fraud. Every day, over 5,000 calls are made to verify whether customers' transactions are genuine or fraudulent.

The Citibank mobile banking platform is available to customers effective immediately.

More information on Citibank Mobile can be found at

Global Transaction Services, a division of Citigroup's Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citigroup's Global Transaction Services supports over 65,000 clients. As of the first quarter of 2010, it held on average $319 billion in liability balances and $11.8 trillion in assets under custody.

1ABI Research: Mobile Banking and Funds Transfer, 2009