Citi

Oldest

Citi

·Nov. 10, 2016

Citi Launches Global API Developer Portal

Citi announced the launch of a new global API Developer Portal (developer.citi.com) to connect with developers and enable them to build innovative client solutions; the open architecture will help facilitate collaboration and partnerships with fintech companies and consumer brands worldwide; Citi will grant developers access to APIs across six usage categories: account management, peer to peer payments, money transfer to institutions, Citi rewards, investment purchases and account authorization; Citi plans to add more categories over time and developers are encouraged to register with Citi to use this portal. Source

Read Full Story

Fintech News Roundup

·Dec. 9, 2016

Citi Releases Mobile Banking and Investing App

Citi Global Consumer Bank's fintech unit has released a new mobile app for the iPhone; app has banking, wealth management and money movement capabilities; it is among the first mobile banking apps to integrate banking, investing and money movement; app features include simplified money transfers and mobile trading capabilities. Source

Read Full Story

Peer to Peer Lending

·Oct. 25, 2017

Leading Banks are Embracing Digital Strategies More Than Ever

While banks might have initially been slow to act when it came to embracing digital strategies they are now able...

Read Full Story

Fintech News Roundup USA

·Nov. 21, 2017

JP Morgan and Goldman Sachs Trial DLT for Equity Swaps

A consortium of banks that include JP Morgan Chase, Goldman Sachs, BNP Paribas, Credit Suisse and Citi trialed a distributed ledger platform that proceeded equity swaps from beginning to end; the AxCore platform by Axoni would allow for payments to process instantly and reduce potential disputes; Greg Schvey, CEO of Axoni, said in a statement reported by CoinDesk, “Equity swap data is infamously complex and difficult to manage, making it a terrific fit for distributed ledger technology.” Source.

Read Full Story

Fintech News Roundup USA

·Jan. 24, 2018

Citi Sees Mobile App Adoption to Be Slower than Rivals

Citi’s mobile app users grew by 21 percent the past year to reach 9 million users; this adoption is a lot slower than peers at Chase, Bank of America and Wells Fargo who see mobile app users over 20 million; Citi’s growth for the past year is higher and their adoption is beginning to increase; Citi was slower to the game of adopting the new digital features but has since started to catch up by launching Citi FinTech; the new unit has helped the company to launch over 800 digital increases in the past year, a 300 percent increase; the company is planning to keep investing heavily in fintech and is optimistic about their future adoption trends. Source.

Read Full Story

Fintech News Roundup

·Nov. 11, 2016

Citi Launches Global Digital Wallet: Citi Pay

Citi customers will now have a simple and fast option for online, in-app and in-store payment needs with the new digital wallet Citi Pay; this will be viewed as a digital expansion of their current bank and credit card accounts; Citi is also partnering with Mastercard to leverage their digital payment service, Masterpass, which will give Citi customers access to hundreds of thousands of merchants in 33 countries. Source

Read Full Story

Peer to Peer Lending

·Jun. 22, 2017

Banks Going Digital – Transforming Branches, Apps and a Focus on Customer Experience

In Austin last week American Banker hosted their annual Digital Banking Conference where banks of all sizes gathered to discuss...

Read Full Story

Fintech News Roundup USA

·Oct. 25, 2017

Lend Academy Article: Leading Banks are Embracing Digital Strategies More Than Ever

Many of the major US banks are now adopting digital strategies into their business; Lend Academy shares progress from JPMorgan, Bank of America, Wells Fargo, Citi and Goldman Sachs. Source

Read Full Story

Fintech News Roundup USA

·Jan. 18, 2018

Citi’s Retail Banking Revenues Grow from Digital Strategy

Citi has reduced their branch network by more than 16 percent in the last two years and has plans to continue this trend; the bank has seen their retail banking revenues grow despite less branches as their digital channels have picked up the slack; digital users grew 13 percent and mobile users grew 21 percent as the company looks to expand their digital footprint; “We’re making investments in digital, and growing our franchise through digital rather than the physical footprint,” said CFO John Gerspach on an earnings call; the company has also looked to retool branches by rolling out digital aspects in the branch using computers and iPads. Source.

Read Full Story

Fintech News Roundup USA

·Feb. 2, 2018

Some US Banks Trying to Get Ahead of Open Banking Trends

BBVA Compass, Capital One, Silicon Valley Bank, Citi, CBW Bank are some of the early adopters of open APIs that are beginning to transform how banking operates; the big question is how open will banking become and will it be mandated by legislation or will banks work with only those they trust; the one thing all banks are starting to do is make bigger investments into digital products, whether through partnerships or development as they see that the old way of banking will not survive. Source.

Read Full Story