First it tells me I need at least one uppercase, then this:
There really shouldn’t be restrictions on special characters or even spacings if that is what the customer thinks is a better password. It just doesn’t compromise on security. I hope Citibank realizes this.
Last August Citibank Singapore launched its mobile banking platform to enable their customers greater banking options. The can be seen as an all-in-one solution that allows customers to do regular banking transactions and get real-time information through their mobile phones. I’ll show you one of their key services — Citi Mobile.
Citibank customers can take advantage of the new service using their existing Citibank Online logins:
There are no additional tools to download and uses a two-factor authentication through an encrypted connection. The One-Time PIN (OTP) is sent via a flash SMS, an SMS that is sent as a layer on top of your browser for mobile banking browser-supported mobile phones. This would mean that you do not have to close your browser to check the OTP in your SMS inbox. Take a look at the screen shot:
In addition, no financial information is stored on the mobile phone. The security features of Citi Mobile ensures it is as secure as Citibank Online.
Essentially Citi Mobile is a streamlined version of Citibank Online targeting mobile users. You can perform payment transfers as you would in Citibank Online which is the full fledge internet banking destination for Citibank:
The U.S. government announced multi-billion dollar backstop for Citigroup. Citigroup, with $2 trillion worth of assets, is the largest U.S. bank by assets.
Too big too fail again?
U.S. Offers Citigroup Sweeping Safety Net
The Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. said last night they will protect Citigroup, one of the nation’s largest banks, against potential losses on a $306 billion pool of troubled assets.
Citigroup would absorb the first $29 billion in any further losses on these assets, which are primarily securities backed by mortgages and commercial real estate loans, with the government stepping in to cover most of the losses beyond that amount. In return, the government is to receive $7 billion in preferred shares in the company.
The government also will invest another $20 billion in Citigroup, on top of the $25 billion infusion of taxpayer dollars already made.
This time, though, the company in jeopardy is truly gigantic. Citigroup is the largest U.S. bank by assets, with $2 trillion on its books. (Source: Washington Post)
On other news, Bloomberg reports Goldman, Morgan Stanley May Want Citigroup:
Goldman, Morgan Stanley May Want Citigroup, CreditSights Says
A purchase of Citigroup Inc. would “significantly” add to Goldman Sachs Group Inc. or Morgan Stanley’s earnings as long as the U.S. government absorbed losses on the embattled bank’s assets, according CreditSights Inc.
Buying Citigroup “would be significantly accretive to Goldman and Morgan Stanley’s earnings as the potential buyer would be acquiring a significant future earnings stream for a relatively low price,” David Hendler, an analyst at CreditSights in New York, wrote in a report yesterday. The buyer “would probably receive government support if it was needed.” (Source: Bloomberg)
Citibank people sent me an email reassuring their customers on the company. It’s kinda saying Citibank is better of the worse. Anyway, more money disappearing:
Citigroup posts loss amid credit costs
NEW YORK (Reuters) – Citigroup Inc, battered by the global credit crisis, posted its fourth straight quarterly loss on Thursday, hurt by more than $13 billion of credit costs and write-downs tied to complex and low-quality debt.
The bank said it was making good progress on shedding assets and cutting costs. But tight credit conditions and potential recessions globally could cut into its other businesses, from retail brokerage to credit card lending.
Citigroup posted a third-quarter net loss of $2.82 billion, or 60 cents per share, compared with a profit of $2.21 billion, or 44 cents, a year earlier. It loss from continuing operations was $3.42 billion, or 71 cents per share.
Citigroup ceded its crown as the largest U.S. bank by assets to JPMorgan Chase & Co after shedding $50 billion of assets since June. Citigroup ended September with $2.05 trillion of assets, while JPMorgan had $2.25 trillion. (Source: Reuters)
November 4 is the start of the US elections. I can’t wait. I am more excited about this than any other thing that happens this year.
Some companies just try to convince you not to unsubscribe from their newsletters. One such company is Citibank Singapore.
As a Citi customer, you have the opportunity to make choices. As you consider this, we encourage you to make choices that enable us to provide you with quality products and services that help you meet your financial needs and objectives. If you do not wish to receive future electronic mailers of this category, please reply to this email with the word “Unsubscribe” in the email subject title. Please allow 10 business days for your request to take effect. You will however, continue to receive communications including inserts with your monthly account statements pertaining to your account(s) with us.
Well, sorry, my choice is still to unsubscribe. I don’t like mail in my inbox unfortunately.