Citibank Hungary launches another first in the market: the unique free Internet Secure Code Service to enhance online purchase security

December 13, 2011

Citibank Hungary is the first and currently the only financial institution in Hungary offering J.P. Morgan Asset Management's 16 mutual funds to its customers. With this new strategic partnership, Citibank expands the portfolio diversification opportunities it provides to its customers, with 183 different mutual funds from 13 fund houses and asset management partners on offer.

The Citibank Hungary and J.P. Morgan Asset Management Team at the launch Citigold event on Nov 24

Citibank Hungary's credit card holders are the first in the country to have access to the free Internet Secure Code Service (3-D Secure technology) that greatly enhances the security of online purchases with credit cards at participating merchant networks. Citi Life, Malév-Citibank and Shell-Citibank co-brand cardholders who are subscribed to Citibank's SMS Alert Service for monitoring card transactions have automated access to this free service, or the service can be conveniently activated by calling the 24-hour CitiPhone Banking hotline.

Batara Sianturi, Citi Country Officer for Hungary said, "With the launch of the secure internet transactions service we continue our tradition of being the first to bring innovative solutions to our customers. This new service is another step in our strategy to become the world's digital bank. We have already launched a great number of new and innovative services in 2011 that marks the 25th anniversary of serving our clients and the community in Hungary, including the unique multi-partner Citi Life Card, the Citibank Mobile Banking that brings secure banking to the palm of our customers, and the unique CitiChat online customer service, among others. We are always putting the clients at the center of our innovations and we are constantly working to bring our customers convenient banking solutions in Hungary."

Jon Wiggins, Consumer Business Manager for Hungary also remarked, "We are proud to have brought another value added service to our customers in Hungary by leveraging Citi's unmatched global network and experience. By having a unique code sent very quickly to the mobile phone of the customer in an SMS text message this service will not only enhance the security of online purchases but it will provide a convenient and easy process to add to the positive client experience that we consider of key importance at Citibank Hungary. "

Participating online merchants are identified by the following logos on the website:

When buying from merchants who do not yet participate in the Secure Code Network, the process remains unchanged: customers need to provide only the card data with no code. Other cards in the Citibank portfolio will also be linked to this service in the next few months.