Mobile Money Venture launches mobile banking service in the Philippines

Tags: Citi Mobile Money Ventures mobile security SK Telecom

By SearchSecurityAsia editors | Jun 30, 2009

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HONG KONG - SK Telecom announced that Mobile Money Ventures LLC (MMV), its joint venture company with Citi, launched a browser-based mobile banking service in the Philippines that will allow customers of Citi to efficiently manage their banking needs from any location via their mobile phones.

“With our expertise in telecom and mobile finance, SK Telecom is proud to provide advanced technology to customers worldwide and deliver the next generation of mobile banking technology through our joint venture, Mobile Money Ventures,” said Jin-Woo So, president and head of global management service CIC, SK Telecom. “We are committed to further developing and expanding mobile banking services to additional markets.”

The new service will include bill pay, account information, and fund transfer. All banking options are easily accessible via any mobile internet platform on the customer’s mobile phone. MMV ensures security for customers with a dual-factor authentication system. There will be no financial information permanently stored on the customer’s mobile phone.

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Mobile Money Venture launches mobile banking service in the Philippines