Citi and APIX Enhance Partnership
(8 December 2021 – Singapore) Citi has entered into a partnership agreement with API Exchange (APIX), allowing the Bank to tap into a global ecosystem of FinTech firms and swiftly identify solution partnerships and test them in a cloud-based sandbox before implementation.
This builds on their partnership for Citi's Innovation Lab in Singapore, which has created five proof-of-concepts on the APIX platform in the trial stage.
APIX is a global cloud-based sandbox and marketplace for financial institutions and fintechs to collaborate and deploy solutions rapidly. It is the flagship product of AFIN, established in 2018 by the Monetary Authority of Singapore (MAS), the World Bank Group’s International Finance Corporation (IFC) and the ASEAN Bankers Association.
The collaboration would accelerate time to market of new solutions launched for Citi’s institutional clients.
“FinTech partnerships are a key part of Citi Treasury and Trade Solutions’ broader innovation framework and they complement our extensive in-house innovation engagements. Our engagement with FinTechs is significant and growing as we seek to introduce new and impactful solutions to our clients,” said Citi Asia Pacific Head of Treasury and Trade Solutions Rajesh Mehta.
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