The bank has also moved over $26b for clients using a set of over 50 unique APIs.
Citi's API connectivity platform, CitiConnect, saw more than 157 million API calls since its launch in late 2016 amidst robust adoption from companies from Asia Pacific and Europe, according to a statement. Through CitiConnect, APIs for treasury services enable clients to access the bank's solutions directly to their treasury workstations or enterprise resource platforms.
Since the launch of the connectivity platform, Citi has moved over $26b for clients using a set of over 50 unique APIs. From 18 million calls in November 2018, the number grew to 157 million in August 2019, up 750%.
Fintech, telecom, multimedia and tech companies were behind the growth in API usage and the most popular calls were account balance inquiries, payment status reports and making payments.
The CitiConnect solution offers APIs for both data driven services and transactions including self-service reports, real-time FX information, and account services such as statements, cut-off times and proof of payment. Transaction solutions include payments, request-topay, and WorldLink® transfers.
CitiConnect APIs are supported through an ecosystem that includes partnerships with treasury software providers, including FIS, Kyriba, Oracle and SAP.
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