Citi’s Treasury and Trade Solutions (TTS), an integrated cash management and trade finance services provider wholly owned by Citibank, has expanded its Application Programming Interface (API) through CitiConnect to more than 18 million API calls for payment initiation, status, and account balance inquiries, since launching last year.
By using CitiConnect APIs, clients are able to improve flexibility, accelerating implementation efforts and seamlessly integrating Citi’s capabilities into their native workstations. The APIs also encompass real-time information on FX rates, account statements, direct debits, cut-off times, faster payments, and proof of payment.
Imane Aztout, Group Treasurer for Deliveroo, commented:
“CitiConnect APIs have helped our organization align our finance and business strategies. We are now able to make payments instantly. 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 on 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.”
Citi TTS represents one of the largest API-supported geographies across the entire footprint of Treasury & Trade solutions across 90+ countries.
Additionally, Citi launched its API Developer Portal, consisting of an online repository where clients can access the latest documentation on Citi’s APIs and a sandbox environment. The API sandbox allows developers to test and validate technology. Citi expects the sandbox to drive quality of technology integration between Citi and its clients, including a shorter onboarding process and accelerated technical development.
Tapodyuti Bose, Global Head of Channels and Enterprise Services, Citi Treasury and Trade Solutions, commented:
“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. APIs are proving to be a transformative solution in making real-time banking a reality for institutions across geographies and industries.”