Citi's iPhone Banking App Stored Some User Data

Citigroup Inc's banking application for Apple Inc's iPhone saved some of its users' account data in hidden files on the phones, the bank said on Monday. The account data may also have been saved on the iPhone users' computers, company spokeswoman Natalie Riper said on Monday, adding that Citigroup discovered the glitch in its U.S. Citi Mobile iPhone banking app during a recent review.

Citigroup is telling its customers to upgrade their apps to a new version, which corrects the problem and deletes any information that may have been saved on the iPhones or computers without their knowledge. "We have no reason to believe that our customers' personal information has been accessed or used inappropriately by anyone," Riper said in a statement. "There has been no data breach." Representatives for Apple were not immediately available for comment. The glitch was first reported by the Wall Street Journal on Monday. Citigroup shares rose 2.24 percent to $4.11 on Monday afternoon.