Citi Opens APIs to Hong Kong Developer Community Call for Entries to Citi HK FinTech Challenge
Citibank announced the launch of 30 APIs covering seven categories for Hong Kong on the Citi API Developer Portal (developer.citi.com). Citibank is the first bank in Hong Kong to make available its APIs for the developer community to build innovative client solutions faster than ever before.
First launched in the US and selected Asian markets in November 2016, the Citi API Developer Portal, provides a platform for developers to connect to Citi directly, driving positive development of the FinTech ecosystem and creating values to clients, developers, partners and the FinTech community as a whole.
In order to be future compatible with the ever evolving and increasingly agile banking needs of today’s customers, Citibank’s early adoption of the open API architecture approach and collaboration with the FinTech industry will ensure that we are bringing banking services to where clients need them, anywhere and anytime without physical boundary.
“We are pleased to be the first bank in Hong Kong to launch an open API platform”, said Angel Ng, Country Business Manager, Hong Kong, Citibank Global Consumer Banking. “The launch of this innovative solution is an important milestone on 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. 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.”
To mark the availability of the Citi APIs in Hong Kong, Citibank is proud to present Citi HK FinTech Challenge (the Challenge), the first accelerator program supporting the Hong Kong Monetary Authority x Cyberport Haccelerator initiative.
Mr. Howard Lee, Senior Executive Director, HKMA said, “The HKMA welcomes the launch of the Citi’s “API Developer Portal”, which aims to foster closer collaboration with FinTech firms in developing applications that offer customers with a wider choice of financial services. The HKMA also welcomes Citi making use of the Haccelerator platform jointly organised by the HKMA and Cyberport to launch the Citi HK Fintech Challenge, promoting technology sharing and collaboration among the financial and technology sectors, and fostering the development of the local FinTech ecosystem.”
Citi HK FinTech Challenge enables the Hong Kong developer community to put their ideas into practice, and help them create real-world innovations, which could function with existing Citi technology with minimal connectivity integration. Developers are encouraged to come up with innovative solutions by making use of Citi’s APIs and through connecting to a development sandbox.
Registration for the Citi API Developer Portal and Citi HK FinTech Challenge begins on March 29, 2017. Participants for the Challenge will have the opportunity to join the information sessions hosted by banking executives and technology experts. Participants are required to submit a concept note on their solutions, which will be assessed by a panel of industry experts and financial technology leaders. The shortlisted finalists will showcase their solutions at the Hong Kong Demo Day in June. The winners will have a chance to take their technologies into production with Citi’s support and a share of HK$650,000 in cash.
“We are excited to be supporting the HKMA x Cyberport Haccelerator through Citi HK FinTech Challenge,” said Angel Ng, Country Business Manager, Hong Kong, Citibank Global Consumer Banking. “Following the success of Citi Mobile Challenge in 2015, we are confident that the Citi HK FinTech Challenge will once again attract and appeal to the eager developer community, not only in Hong Kong but also around the region, to compete in coming up with the best solutions to further facilitate money transactions, improve acquisition process, enhance internal process flow and efficiency, and ultimately enrich client experience. We are ready to work with them to take their winning solutions to life with our open architecture as the backbone.”
“We are pleased to be a strategic partner in the successful launch of the Citi HK FinTech Challenge,” said Herman Lam, Chief Executive Officer of Cyberport. “We are confident that the Citi HK FinTech Challenge, within HKMA x Cyberport Haccelerator initiative, will enrich the vibrancy of the local FinTech ecosystem. This collaboration is just a beginning and together, we are going to foster Hong Kong as a leading FinTech Hub.”
About Citi Application Programming Interface (API) Developer Portal The release of Citi APIs marks the evolution of Citi’s technology to open architecture to facilitate collaboration and partnerships with FinTech companies and business partners to benefit clients. Open APIs will also increase the interoperability between partners in various industries.
Through the API Developer Portal, Citi will grant developers access to APIs across seven usage categories, including: • Onboarding: tap into the power of 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: allow clients to access their account summaries in an innovative way • Cards: give clients the ability to manage their credit cards and debit cards while overseas • Customers: allow clients to access their profile information • Money Movement: give clients the ability to move money across accounts • Reference Data: Get programmatic access to reference data for multi-country development
Citi HK FinTech Challenge – Key Dates
• March 29, 2017 Open for Submission • May 14, 2017 Close for Concept Submission • By end May 2017 Announcement of Finalist • By end June 2017 Demo Day • July 2017 Announcement of Award Recipients
For more details on API Developer Portal and Citi HK FinTech Challenge, please visit: developer.citi.com and hkfintechchallenge.com.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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