| Media Release - 02-05-2005 |
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| Newsroom |
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| Millions of Australians ready to embrace mobile banking technology says Citibank |
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- 1 in 4 mobile phone users (3.2 million) likely to pay bills via mobile1
- Around 1 in 4 mobile phone users (3.1 million) likely to transfer funds using their mobile1
- 1 in 3 (4.2 million) likely to access their account details via mobile1
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| Sydney, 2 May 2005: New research commissioned by Citibank shows that 25 per cent of mobile phone users in Australia are likely to pay bills (e.g. BPAY®) via mobile. Twenty four per cent are also likely to transfer funds using their mobile. |
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| This equates to a potential uptake of millions of people across Australia. An alliance between Telstra and Citibank Australia means that Citibank customers can now do all those things and more, direct from their mobile phone. |
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| As the first - and currently the only bank available on Telstra's i-mode® platform, Citibank customers who subscribe to i-mode can do their banking completely at their fingertips without the need to go online. They can use their i-mode mobile phone to pay bills through BPAY®, transfer funds between accounts, check account balances, change personal details, view product information and receive the latest share prices. |
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| Citibank Australia chief executive officer, Les Matheson, says that i-mode is the perfect platform to test Australians' appetite for mobile banking. |
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| "Around 10 million bills are paid every month in Australia using BPAY®. People have become very comfortable paying bills online. Paying bills via mobile is a natural and perhaps even more convenient extension and we have created a safe environment in which to do it," he said. |
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Other research findings include:
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- Around 1 in 3 (31 per cent) 25 – 44 year olds are likely to pay bills via mobile
- 16 – 24 year olds are the most likely (31 per cent) to transfer funds using their mobile
- 43 per cent of 16 – 24 year olds would use their mobile phone to access account details
- Women are more likely to embrace mobile banking than men
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| Security is a priority with any form of electronic banking and is a key feature of i-mode. i-mode is fully secure as every enquiry and transaction is protected by a full 128-bit encryption - the equivalent of the Citibank Online internet banking service. |
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| Telstra's Managing Director of Wireless and Mobility Products, Ms Holly Kramer, said Telstra was delighted to be partnering with one of the top names in Australian banking: "Telstra and Citibank have taken a leadership position in the Australian market by introducing mobile banking technology on Telstra's i-mode platform. |
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| "Australians are demanding more out of their mobile services and the ability to manage personal finances on Citibank's i-mode site is yet another way of providing customers with additional value, flexibility and mobility," Ms Kramer said. |
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| i-mode is available on several mobile handsets, such as the NEC, Samsung, Panasonic and Sagem. These phones are available exclusively at any one of many Telstra stores or re-sellers across Australia. |
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For more information on Telstra's i-mode go to
www.telstra.com.au/i-mode |
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| For media enquiries: |
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| Leila Dean (02) 8225 1658 or 0404 509 894 |
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| e-mail: leila.dean@citigroup.com |
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| Notes: |
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- Research conducted via the Woolcott Reseach Omnibus survey amongst a sample of 1,000 adults aged 16+ between 1st – 3rd April, 2005.
- Trials of i-mode can be arranged. Phone Leila Dean if you are interested.
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| i-mode® and the i-mode logo are trademarks or registered trademarks of NTT DoCoMo Inc. in Japan and other countries. |
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| Telstra® and the Telstra logo are trademarks or registered trademarks of Telstra Corporation Limited ABN 33 051 775 556 |
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| BPAY® is registered to BPAY Pty Ltd ABN 69 079 137 518 |
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| Citigroup (NYSE: C), the preeminent global financial services company with some 200 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at: www.citigroup.com |
