Citibank is taking its global API developer hub to Hong Kong as part of a fintech challenge that promises successful participants a share of HK$650,000 in cash awards plus the opportunity to explore a commercial relationship.
The giant US bank will provide challenge participants with access to a total of 30 APIs spanning seven different use cases in a search for innovative new products and services that can be embedded within its tech platform.
Citi unveiled its API developer hub in November with applications spanning multiple use cases such as account management, peer to peer payments, money transfer to institutions, Citi rewards, investment purchases and account authorisation.
Citi's Hong Kong business manager Angel Ng says: "By enabling the fintech community to access our open API architecture, we hope to contribute to the development of a positive incubation environment and a healthy ecosystem to propel the growth of fintech in Hong Kong."