Citibank will launch its emergency e-banking service lock feature, which echoes with the Hong Kong Monetary Authority (HKMA)’s call for banks to adopt additional security measures.

It is a market-first solution, the banks says, that further strengthens account security by allowing customers the option of temporarily disabling access to transaction services via the bank’s mobile app when they suspect their account is being compromised and restore the services all digitally.

The feature can be activated instantly through the emergency centre on the pre-login page of the app. A notification e-mail and SMS message will be sent once the customer has confirmed the activation.

To ensure customers’ account security, the bank will put in place service restrictions once the feature has been activated. Customers who have lost their card or suspect their card has been compromised can notify the bank directly through the app’s emergency centre.

Customers may restore access to e-banking services anytime, the bank notes, by deactivating the feature using the same device after all necessary measures – such as reporting lost credit cards and verifying transaction details – have been taken to protect their account. As a safety precaution, customers will need to reset the password during the deactivation process. 

“We understand our customers’ need for convenient and secure digital channels that can meet their banking needs,” adds Sarah O, Citibank Hong Kong’s head of digital growth. “More than 88% of our customers are digitally active.”