Citi Launches Global API Developer Portal to Enable Open Banking

Printer-friendly versionPrinter-friendly versionSend by emailSend by email
Citi Joins with Developers and Leading Consumer Brands to Fuel Innovation
Saturday, November 12th, 2016
Citi Developer

"Our APIs are in closed beta, but we're working hard to open them up to everyone".

Singapore – November 12, 2016-- Citi announced the launch of a new global API Developer Portal
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 and target markets across Asia Pacific.
The API developer portal enables the further acceleration of offering our banking services in all
areas of our customers’ digital lives and ecosystems,” said Francisco Aristeguieta, CEO, Asia
Pacific Citi.

Sopnendu Mohanty, Chief FinTech Officer of the Monetary Authority of Singapore, said, “We
are delighted that Citi Singapore is playing a leading role in developing and launching this global
API initiative during the Singapore FinTech Festival which is held from 14-18 November 2016.
This will encourage open collaborations with the FinTech community and potentially deliver
better financial services for customers, as well as re-affirm Citi’s thought leadership in shaping
the future of financial services.”

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.

"The Virgin Money and Citi partnership continues to go from strength to strength,” said Greg
Boyle, CEO, Virgin Australia. “A key priority is the delivery of a new dedicated Virgin Money
mobile app which will leverage Citi's APIs for credit card functionality to deliver a fantastic
experience for our customers. Citi's support via their APIs is critical to ensuring we meet the
digital needs of our customers today and will allow ongoing innovation into the future."

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.

Citi, the leading global bank, has approximately 200 million customer accounts and does business in
more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and
institutions with a broad range of financial products and services, including consumer banking and credit,
corporate and investment banking, securities brokerage, transac

Comments

hyundai eng