Citi unveils APIs for treasury services
Citi’s Treasury and Trade Solutions (TTS) has launched an application programming interface (API) solution for payment initiation, payment status and account balance inquiries through its connectivity platform CitiConnect.
As Banking Technology reported late last year, Citi unveiled a new global API developer portal, which it claimed to be the most comprehensive to date in the financial services industry.
In this latest development, the CitiConnect API allows its treasury services clients to directly connect with Citi to access services using their own treasury workstations or enterprise resource platform (ERP) “providing convenience, potential cost savings and reduced risk”. Citi supports API-based integration across 96 countries.
Naveed Sultan, Citi’s global head of TTS, says its new offering gives its clients “ultimate flexibility and choice of how, where and when they want to access Citi’s network using their existing treasury applications”.
Citi says with its API there is no need for additional providers or services, as the functionality lets end-users manage their transaction banking activity directly from their own trusted applications. The firm worked with a core group of clients to pilot the API service, which they integrated into their treasury processes to deliver payments real-time to Citi, and collect information on the status of their payments.
CitiConnect is part of the omnichannel digital banking product suite that also includes CitiDirect BE, CitiDirect BE Mobile and CitiDirect BE Tablet.
