Following this announcement, Citizens’ customers and clients will have the ability to access their financial data easily through the use of their favorite apps, from budgeting software to accounting platforms, as well as other applications.
In addition, with the new Citizens Open Banking API, users will be able to view their bank account balances, transactions, and more within their preferred external systems. The institution will continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
More information on the Citizens’ Open Banking API launch
According to the official press release, the API was built to the Financial Data Exchange (FDX) standards in order to give users visibility into their data. At the same time, wherever clients spend their time reviewing financial institutions, they will also have access to a proprietary and safe way to view their Citizens accounts.
In addition, as the new capability was built to support Citizens’ retail, business, commercial, wealth, and private banking customers, it will also enable improved financial planning, budgeting, and overall increased access to personalised financial tools. Furthermore, clients will have the possibility to benefit from secure and efficient data transfers as a result of the integration between external platforms and the bank.
The design of the Open Banking API will also enable Citizens to expedite the overall release of new features that rapidly and securely integrate with connected platforms, fintech companies, and data aggregators. This is expected to provide customers with high-quality data where and when they need it, aiming to eliminate the risks that are usually associated with outdated methods such as screen scraping. In turn, this will ensure that users can access their financial information safely and efficiently.
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