Global banking giant Citi has launched a new API Developer Portal, to connect with developers and enable them to build innovative client solutions. Citi claims it will be one of the most comprehensive platform to date in the financial services industry.
With this launch, the company will grant developers access to APIs across six usage categories, including account management, peer to peer payments, money transfer to institutions, rewards, investment purchases and account authorization. This marks the evolution of its technology to facilitate collaboration and partnerships with FinTech companies and consumer brands across the globe to benefit customers. 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.
Developers will be given tools to connect on the site in a development sandbox, enabling them to put their ideas to practice.
The company has used its API platform to provide various services in the past. It tied up with several leading companies, including Mastercard, Virgin Money and Wonder in the US earlier this year. Its Pay with Points API started providing Citi ThankYou Rewards members with an eligible credit card the option to use points to cover purchases with a statement credit when using their card to make purchases on BestBuy.com and in the Wonder App.
“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.
The banking giant has also partnered with Singapore-based honestbee, an online concierge and delivery services, to allow their customers to apply for a Cash Back card on honestbee’s website and mobile app. This platform will use the API technology, allowing a seamless card application process via merchant partners’ sites.