Citi has invested in low code platform Genesis Global Technology in an effort to drive business workflow efficiencies across multiple business lines.
Specifically geared toward financial market, the Genesis low code application platform tackles direct automation use cases, such as End User Computing (EUC) replacement and client servicing portals, alongside more complex opportunities including automating end-to-end electronic trading workflows and mobile framework applications.
Nikhil Joshi, managing director, global head of ppread products technology and head ofmarkets technology at Citi says: “The low-code application development paradigm has increasingly gained momentum in the financial industry and has the potential to change the way the industry develops applications in the future. Genesis complements our mainstream application development methodologies, and integrates with them quite well. We are very much looking forward to partnering with Genesis to accelerate Citi’s digitization journey.”
The investment in Genesis was made by Citi via its Markets FinTech Investments and Sprint groups. The value of the deal was not disclosed.