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Mobile: Citibank Remains Committed to No Login with Newest “Lite” iPhone App

This post has been superseded at finovate.com.

citibank_lite_app_frontFlipping through the top-100 iPhone apps in the Finance category, I noticed Citibank’s new Lite version at #90. It has been ranked as high as #31 in the past month (see chart below). In comparison, the core Citi Mobile app is ranked #14.

The app was released March 29 to support the Apple Watch app. But it’s more than just a watch app. It can be used by anyone who wants a simple, always-logged-in way to track banking and credit card transactions (see inset).

The app includes current balance and last 15 transactions (5 on Apple Watch) for checking, savings and credit cards. Users log in once, then the app stays logged in indefinitely. There is no transactional functions in the app, so the security risk is almost non-existent. This may appeal to certain security conscious customers still wary of mobile transactions. Customers can logoff at any time to protect their privacy.

The bank provides the same benefit with the Snapshot feature in its full-featured mobile app. So, Citi Mobile Lite may be a temporary workaround until the bank integrates Apple Watch support into its main app. But the bank may find there is a strong core audience for a non-transactional app and keep it around for many years.

The Lite app is not currently listed in the bank’s mobile banking section. The only way to find out about it is through the bank’s site search or through Apple’s App Store. Here’s the landing page found via a search for “Apple Watch” (see screenshot below).

Citibank now offers a suite seven separate apps to U.S. customers: Citi Mobile, Citi Mobile Lite, Cit Private Bank in View, Citi News, Citi Velocity, CitiFX Pulse, Citi on Campus. Additionally, there are local Citi Mobile versions across at least 18 other countries.

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Citi Mobile Lite ranking in Finance category of Apple App Store (U.S.)

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Source: AppShopper, 27 May 2015

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Citibank desktop landing page

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