Six and the Citi unveil API partnerships in Hong Kong
Citi has made six API partnerships with corporations in Hong Kong as it looks to improve its digital banking services.
According to the bank, by making use of its open API technology in different categories covering cards, customers, money movement, onboarding, and pay with points, one of the new services has already been launched, while the others will be rolled out in phases in the coming year.
Angel Ng, Citi country officer, Hong Kong and Macau, says these partnerships are “just the beginning of Citi’s open API journey” and it is “working with other partners to launch more new services tailored to consumers’ digital lives”.
The six partnerships are:
- HKTVmall integrated with Citi Pay with points API – Cardholders of Citi points-bearing credit cards can now offset their online purchases upon checkout at HKTVmall using their reward points without leaving the shopping platform. Over 50% of Citi credit card customers who shop on the HKTVmall platform have used the new service since its launch in March 2018.
- EGL Tours integrated with Citi Pay with points API – Cardholders of Citi points-bearing credit cards will be able to offset their online purchases upon checkout at EGL Tours using their reward points without leaving the shopping platform.
- AIA Hong Kong integrated with Citi Customers API – For existing Citi customers, the time required to conduct a financial needs analysis at Citibank branches will be shortened during the sales advisory process for identifying insurance needs. They will no longer be required to fill in certain personal information and details of existing insurance policies as the information is already available in their Citi profiles.
- Octopus App integrated with Citi onboarding, cards and money movement APIs – Customers will be able to apply for a Citi Octopus Credit Card with their basic information automatically pre-filled on the application form, and upon approval, activate the card and the automatic add value service via the Octopus App. Customers will also be able to top-up their O! ePay wallets using Citi credit cards.
- Citi Visa Fetch App – The app uses both Citi’s and Visa’s APIs to provide language translation, foreign currency conversion and price comparison between various online platforms, upon scanning a particular product. The app will also have the option of converting customers’ purchases into installment payments by credit cards and will display the latest credit card balance.
- Zurich Hong Kong integrated with Citi Customers API – Citi customers will be able to purchase certain Zurich insurance products via the Citi and Zurich integrated platform without having to fill out personal and payment information, which will automatically be pre-filled in, cutting application time by up to 70%.
Citi says “Open API” is one of the seven initiatives announced by the Hong Kong Monetary Authority (HKMA) in September 2017 to improve the region’s banking scene.
In addition, Citi Hong Kong was the “first bank in Hong Kong” to launch its API Developer Portal in March 2017, making available a total of 37 APIs covering seven categories.