Citi Continues to Expand APIs for Treasury Services

Business Wire 5-Jun-2018 9:00 AM

Over 18 Million API Calls Processed

Citi's Treasury and Trade Solutions (TTS) continues to expand its Application Programming Interface (API) solution through CitiConnect®, Citi's state-of-the-art integration platform. Since launching CitiConnect APIs last year, the bank has processed more than 18 million API calls for payment initiation, payment status, and/or account balance inquiries.

Clients utilizing CitiConnect APIs have made a significant impact on their businesses by improving flexibility, accelerating implementation efforts and seamlessly integrating Citi's capabilities into their native workstations.

"CitiConnect APIs have helped our organization align our finance and business strategies. We are now able to make payments instantly." stated Imane Aztout, Group Treasurer for Deliveroo. "Our business is all about fast service, so it only makes sense that we would take advantage of a payment tool that reflects our quick and convenient philosophy. APIs allow us to better manage the large volume of payments for our business and achieve critical straight-through processing with reduced resources. The impact of this technology to our business is game-changing." Deliveroo offers a fast and reliable food delivery service from a network of restaurants, accessible through online and mobile channels across regions.

CitiConnect APIs also encompass real-time information on FX rates, account statements, direct debits, cut-off times, faster payments, and proof of payment. Citi TTS supports API based integration across the entire footprint of Treasury & Trade solutions across 90+ countries, representing one of the largest API-supported geographies.

"Since launching our first set of CitiConnect® APIs over a year ago, clients around the world have been connecting with Citi, accessing critical services using their own treasury workstations or enterprise resource platforms (ERP). And, through our strategic partnerships with various treasury software providers we are helping to further accelerate the integration process," said Tapodyuti Bose, Global Head of Channels and Enterprise Services, Citi Treasury and Trade Solutions. "APIs are proving to be a transformative solution in making real time banking a reality for institutions across geographies and industries."

In addition, Citi has launched the CitiConnect® API Developer Portal (https://tts.sandbox.developer.citi.com/citiconnect/). The Portal consists of an online repository where clients can access the latest documentation on Citi's APIs and a sandbox environment where they can perform technology testing and validation. Usage of the Developer Portal is expected to shorten the client onboarding process, accelerate technical development, and improve the quality of technology integration between Citi and its clients.

CitiConnect® is Citi's industry leading connectivity platform, and is part of the omni-channel digital banking product suite that also includes CitiDirect BE® portal, mobile and tablet experiences.

Citi Treasury and Trade Solutions (TTS) enables our clients' success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the industry's largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms, TTS continues to lead the way in offering the industry's most comprehensive range of digitally enabled treasury, trade and liquidity management solutions.

About Citi

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, transaction services, and wealth management. Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

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