Citi is strengthening its mobile payment capabilities with two new applications for financial institutions– CitiDirect BE Payment Advisor and Payments Directory Mobile.
Both applications are available on mobile devices. They are designed to provide customers with real-time access to payment status, said Sam Itzcovitz, head of Clearing and Financial Institutions Payments at Citi.
CitiDirect BE Mobile Payment Advisor allows banks, their customers, or third parties track the status of a payment at any time and from any mobile device, similar to tracking the status of a package.
Users can also search for transaction updates online from mobile devices or computer. The application is secure as it requires information such as sender reference, amount, currency and value date to return a result.
Payments Directory Mobile provides banks with a comprehensive database of institutions worldwide that participate in U.S. dollar clearing. It allows clients to navigage through the cumbersome process of choosing from one of thousands of correspondent banks to route a payment.
With mobile phone subscribers growing at an unprecedented rate and virtually every business executive tethered to his or her favorite mobile device, corporate applications emerge as the next frontier for these ubiquitous personal communications tools, says JP Jolly, head of Channel Services at Citi.