Citibank has launched its Citi API Developer Portal in Hong Kong to make its 30 application programme interfaces (APIs) available to the local developer community, so as to help build financial technology (FinTech) solutions.
The portal was first launched in the United States and selected Asian markets in November 2016.
"The launch of this innovative solution is an important milestone in our quest to future compatibility. Technology evolves at the speed of light and clients now demand quicker and more tailored services that suit their changing lifestyle," said Angel Ng, Country Business Manager of Citibank Global Consumer Banking in Hong Kong, in a press release.
"By enabling the FinTech community to access our open API architecture, we hope to contribute to the development of a positive incubation environment and a healthy ecosystem to propel the growth of FinTech in Hong Kong," Ng continued.
Accelerator programme to encourage the use of Citi's APIs
Citibank has also launched its first accelerator programme in the country, Citi HK FinTech Challenge, to support the Hong Kong Monetary Authority x Cyberport Haccelerator initiative.
With the API Developer Portal, local developers are encouraged to build solutions using Citi's APIs and connect to a development sandbox. Specifically, the developers can access Citi's APIs across seven usage categories:
- Onboarding — Tap into Citi acquisition partner services for credit cards and loans.
- Pay with points — Allow clients to use points to cover purchases with statement credits when using eligible credit cards.
- Accounts — Give clients access their account summaries innovatively.
- Cards — Allows customers to manager their credit cards and debit cards while abroad.
- Customers — Allows customers to access their profile information.
- Money movement — Provide clients the ability to move money across accounts.
- Reference Data — Get programmatic access to reference data for multi-country development.
Interested participants can register their interest from now till 14 May 2017. Participants are also required to submit a concept note of their solutions, which will be assessed by a panel of industry experts and FinTech leaders.
The list of finalists will be announced in May 2017. The shortlisted participants will showcase their solutions at the Hong Kong Demo Day in June 2017. The winner of the challenge will win HK$650,000 in cash, and a chance to produce their solutions with support from Citi.
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