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.