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Citi rolls out APIs for treasury services

Monday 27 March 2017 | 02:47 PM CET

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 CitiConnect.

The CitiConnect API allows Citi’s treasury services clients to directly connect with Citi to access services using their own Treasury Workstations or Enterprise Resource Platform (ERP) Citi supports API based integration across 96 countries.

Evolving client needs now require fully automated solutions to process transactions directly from the client’s own treasury platform to their banking partners’, without having to rely solely on banking portals that often require proprietary builds, applications or interfaces. With the CitiConnect API, there is no need for additional providers or services, according to Citi, as API functionality empowers end-users to manage their transaction banking activity directly from their own trusted applications. Citi has worked with a core group of clients to pilot the API service, which they have integrated into their treasury processes to deliver payments real time to Citi, and collect information on the status of their payments.

CitiConnect API provides an ‘on-demand’ service that connects to Citi directly from a client’s Treasury Management or ERP system. APIs make it simpler for Citi’s institutional clients to develop interfaces to Citi to access and manage their accounts allowing for Citi to offer a variety of transaction services in a different way. Following this initial launch, Citi expects to continue to develop additional API services for transaction banking including service inquiries, account management, and liquidity services.

CitiConnect is a part of the omni-channel digital banking product suite that also includes CitiDirect BE, CitiDirect BE Mobile and CitiDirect BE Tablet.

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