Citibank, NTU jointly hold Pan Asia Model UN event

The China post news staff

TAIPEI, Taiwan — Citi encourages young students to use mobile technology and to embrace change. The people of Britain voted for Brexit. Geopolitical conflicts in the Middle East intensified. The youth unemployment situation deteriorated. How can young people face these dramatic changes in the political and economic situations around the world? Citibank Taiwan and the NTU International Law Society worked together to hold the Citi Pan Asia Model United Nations (Citi PAMUN) on Dec. 8 in Taipei. The theme of this year’s Citi PAMUN centers on “Embracing The Ever-changing World.” A total of 413 students from 26 countries took part in the four-day meeting that ran from Dec. 8 through Dec. 11. They discussed issues such as international finance, regional politics, agricultural development and climate change, as well as human rights and education. Yunny Lee, Citibank Taiwan Business Manager of Global Consumer Banking and Michel Ching-long Lu, the former Taiwanese envoy to France, also attended the opening ceremony of Citi PAMUN, sharing their observations and experiences on the changing world with young students. Globalization, urbanization and digitization have been changing our lives — particularly digitization. The emergence of mobile internet, social media, cloud computing and big data technology has enabled the development of physical and virtual channels to reach a critical turning point. Technologies have transformed companies’ business models and personal life experiences. Both companies and individuals should keep up with current trends and utilize new technologies to embrace changes. Taiwan’s smartphone penetration rate has reached 73 percent, Lee said, adding that the average duration of daily internet usage among consumers via mobile device was up to 197 minutes. This means that cell phones are not only communication tools, but have also become mobile banking devices. In an effort to provide more intuitive and simpler services, Citi pioneered the use of new technologies including the Touch ID fingerprint identity sensor, Citi Mobile Snapshot, and Mobile One-Time PIN (OTP), which alter interactions between consumers and traditional banks.

In addition, Citi also launched voice biometrics authentication that combines biometric technology and fintech. The bank’s voice biometrics authentication project enables a voice print to work as an authentication code. The voice print consists of over 130 characteristics such as wavelength, frequency, intensity and rhythm of speech. Through Citi’s voice biometrics authentication system, customers will have their voice identities automatically verified within 15 seconds or less. This is a huge reduction from the current average time of around 45 seconds. Such innovations show that Citi embraces technologies and transforms them into remarkable customer experiences.