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BANKING TECHNOLOGY | Staff Reporter, Hong Kong

Citi to link open API technology with five companies

The partnership would result in streamlined retail and insurance purchases.

Citi is planning to link its open API services with five more institutions across various industries including travel and insurance to streamline the provision of banking services for the digital Hong Konger.

The bank’s open API technology will be rolled out in different categories including cards, customers, money movement, onboarding, and pay with points.

Cardholders of Citi points-bearing cards will soon be able to offset their online purchases upon checkout at tour company EGL Tours using their rewards points. The move follows the earlier integration of the Citi Pay with Points API with HKTVmall last March.

Additionally, the bank targets to streamline the delivery of its customers’ insurance needs with the planned integration of Zurich Hong Kong platform and Citi Customers API which will enable customers to purchase select insurance products without having to fill out personal and payment information.

Similarly, the application time to conduct a financial needs analysis will be slashed during the sales advisory process for the identification of insurance needs following the integration of AIA Hong Kong with Citi Customers API.

On the other hand, Citi Visa Fetch APP, which leverages the bank’s and Visa’s API, can provide instant language translation, foreign currency conversion and price comparison amongst a wide array of online platforms upon scanning a particular product.

The Octopus application will similarly be integrated with Citi Onboarding, Cards and Money Movement APIs which will allow customers to apply for a Citi Octopus Credit Card. The service also enables customers to top-up their O! ePay wallets using Citi credit cards.

"These partnerships are just the beginning of Citi's Open API journey,” said Citi country officer for Hong Kong and Macau Angel Ng. “We are working with other partners to launch more new services tailored to consumers' digital lives, bringing enhanced solutions that create value to clients, business partners, and Citi."

The services will be rolled out in phases in the coming year.

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