API

Citi Expands Treasury Service API Solution

Citi

After launching its CitiConnect application programming interfaces (APIs) last year, Citi‘s Treasury and Trade Solutions (TTS) continues to expand the platform. Since its rollout, Citi has processed more than 18 million API calls for account balance inquiries, payment initiation and payment status, the company said in an announcement.

Through the API, CitiConnect offers information on account statements, direct debits and FX rates, among other data. In all, Citi’s TTS supports integration through APIs for its treasury and trade solutions in more than 90 countries. And, with the integration, Citi said clients can accelerate implementation, improving flexibility and integrating the company’s capabilities into their own workstations.

“CitiConnect APIs have helped our organization align our finance and business strategies,” Imane Aztout, group treasurer for Deliveroo, said in the announcement. “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.”

And, now, Citi has rolled out a CitiConnect API developer portal. With the launch, clients can access API documentation and use a sandbox for testing and validation. In addition, Citi said the developer portal could shorten the onboarding process, while accelerating technical development.

The news comes more than a year after Citi announced the launch of the API in February 2017, which connected its clients operating in the treasury services industry to critical Citi services. According to a release, the bank’s TTS unit rolled out the CitiConnect API to help treasury service providers link their own treasury and ERP solutions with Citi. The bank’s API enables treasurers to manage transaction banking activity straight from existing treasury platforms already in use within the enterprise. Citi added that it developed the API service in conjunction with several corporate clients.

“API-based integration is one of the biggest topics across the industry,” said Citi’s global head of treasury and trade solutions, Naveed Sultan, in a statement. “And with CitiConnect API, TTS offers the right solution on a global scale.”

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