Citi, through its Treasury and Trade Solutions (TTS) group, has launched the CitiConnect API: a solution for payment initiation, status and account balance inquiries. The API provides access to CitiConnect, Citi's existing connectivity platform. The API allows clients to connect directly with Citi for access via third party apps like treasury management software and ERP systems.
“API based integration is one of the biggest topics across the industry. And with CitiConnect API TTS offers the right solution on a global scale," Naveed Sultan, Citi Global Head of of Treasury and Trade Solutions, commented in a press release. "This new, innovative offering provides Citi’s clients ultimate flexibility and choice of how, where and when they want to access Citi’s network using their existing treasury applications....API technology allows Citi to offer a variety of services in a dramatically different way, and over time will also offer additional functionality including service inquiries, account management, and liquidity services.”
The CitiConnect platform is part of a suite of omni-channel digital banking products which includes CitiDirect BE, CitiDirect BE Mobile, and CitiDirect BE Tablet. The goal of the platform and the new API is to provide banking customers with the improved digital experience now demanded in the market. An API strategy within the platform allows institutional partners to develop seamless experiences and leverage cost efficiencies and lower risk.
The CitiConnect API provides an on-demand service. The network underlying the service is licensed in over 90 countries. The initial API provides cash management and trade finance services to institutional partners. Citi plans on expanding its API portfolio to include services for transaction banking including service inquiries, account management, and liquidity services. Follow updates at the TTS press room to learn more. Contact a Citi representative to learn more.