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Citi Is Creating Marketplace for Third-Party Fintech Platforms, Signs Data Access Agreements with Startups to Customer Approved Accounts
December 19, 2020 @ 7:13 pm By Omar Faridi
Citi (NYSE:C) is developing a new marketplace of third-party Fintech platforms and services. The bank has reportedly signed data access agreements to customer-approved accounts with 8 startups and data aggregators.
Citi’s clients will be offered a secure way to share their account details with various financial apps and services by using API token-based technology.
Mike Naggar, Chief Digital Officer, Citi’s US Consumer Bank, noted that at Citi, they believe in giving their clients more choices, greater convenience and more control over their financial information. Naggar explained that through the use of APIs, these agreements should help with offering a seamless and secure data sharing experience for Citi clients who decide to shared their financial details with third-party apps and service