Citi Unveils Global API Developer Portal to Enable Open Banking
- 11.11.2016 09:45 am
Citi announced the launch of a new global API Developer Portal (developer.citi.com) to rapidly connect with developers and enable them to build innovative client solutions faster than ever before. The global developer platform is one of the most comprehensive to date in the financial services industry.
The release of Citi APIs marks the evolution of Citi’s technology to open architecture to facilitate collaboration and partnerships with FinTech companies and consumer brands across the globe to benefit customers. Through the global developer portal, Citi will grant developers access to APIs across six usage categories, including account management, peer to peer payments, money transfer to institutions, Citi rewards, investment purchases and account authorization. Additional categories will be added over time.
“Citi’s Global Developer Portal advances our open innovation approach to delivering cutting edge solutions and enabling new streams of value for clients, partners and developers,” said Stephen Bird, CEO, Global Consumer Banking at Citi. “The rapid pace of technological change demands transformation from the inside out and the outside in. By creating a collaborative ecosystem of leading brands and developers, we will be able to offer a complete suite of products, services and experiences to meet our clients’ financial needs today and in the future.”
“At Citi we are focused on making banking easier for our customers by leveraging digitization, mobile technology and innovation. Our open architecture approach is supported by the launch of APIs as a key enabler for the rapid and dynamic deployment of services and capabilities that will allow us to be increasingly relevant to our customers. The API developer portal enables the further acceleration of offering our banking services in all areas of our customers’ digital lives and ecosystems,” said Angel Ng, Country Business Manager, Hong Kong, Citibank Global Consumer Banking.
Citi has teamed up with several leading companies, including Mastercard, Virgin Money and Wonder. Earlier this year in the U.S., Citi’s Pay with Points API started providing Citi ThankYou® Rewards members with an eligible Citi credit card the option to use points to cover all or part of their purchases with a statement credit when using their card to make purchases on BestBuy.com and in the Wonder App.
In Singapore, Citi has partnered with honestbee, one of Asia’s fastest growing online concierge and delivery services, to allow their customers to apply for a Citi Cash Back card on honestbee’s website and mobile app. Launching in December, this integrated experience for customers is made possible using Citi’s API technology, allowing a seamless card application process via Citi’s merchant partners’ sites.
The Global Developer Portal, developed by Citi FinTech and Citi teams across Asia, North America and Mexico, is the latest in a series of Citi innovations, from pioneering the ATM to introducing the first banking app for Apple Watch. In 2014, Citi launched a global hackathon and accelerator called the Citi Mobile Challenge which traveled to Latin America, the U.S., Europe, the Middle East, Africa and Asia Pacific, with participation from thousands of developers across more than 100 countries. In 2015, Citi FinTech was created as a new unit within Citi’s Global Consumer Bank, charged with accelerating speed to market with next generation mobile banking capabilities.
The Global API Developer Portal launched today. Developers are invited to register their interest at developer.citi.com where they will be given tools to connect in a development sandbox, enabling them to put their ideas to practice