The long-awaited launch of True Mobile Banking 2.0 (note 1) in the United States happened yesterday with Citibank beginning a limited rollout of its mFoundry-powered downloadable mobile banking service. The service is currently available to Citibank customers in Southern California with nationwide rollout this summer. However, the bank's website today merely says it's "coming soon" (see screenshot below; link here).
The new service is not mentioned on the main Citibank website, unless you use the site search feature (see note 2).
The single mobile banking page doesn't tell us much we didn't already know (see previous coverage here), other than a few minor details are revealed for the first time:
- Mobile PIN number is the same as what's used for regular phone banking; PIN numbers can be created online through a link on the mobile page
- To enroll, users enter their mobile number, carrier and phone model and a link to the downloadable application is sent via text message
A short four-screen demo (below) shows users how to activate the service once it's been downloaded:
There was lot's of new coverage on launch day, indicating that Citi made the press rounds prior to launch:
- Steve Bills from American Banker chimes in with a brief piece using consultant Richard Crone as a reality check on Citi's PR material (here)
- Eileen Alt Powell put this out on the AP Wire
- Time even picked up the story (here)
Note:
1. True Mobile Banking is defined as transactional banking directly from a mobile phone, without the need to access a website (WAP). The 2.0 means it's a second-generation technology, not to be confused with the circa 1999-2002 version 1 that worked on a limited universe of PDAs.
2. Accessed the website from a Seattle IP address via my laptop which does NOT know that I am a Citi customer.