Citi enrolls as a Payment Initiation Service Provider (PISP) for Open Banking in the UK

Tuesday 5 June 2018 11:18 CET | News

Citi has announced that is has enrolled as a Payment Initiation Service Provider (PISP) on the UK Open Banking Directory.

The inclusion in the directory will allow Citi to begin piloting new payment and collection services for its clients.

Open Banking in the UK, which went live in January 2018, requires the nine largest UK banks to publish open APIs, enabling regulated third party providers to access bank accounts securely and with account holder consent, via open APIs.

The directory is part of a wider shift in the global banking landscape from batch processing to real-time, hyper connected banking – an era of real-time payments and collections, and banking systems becoming accessible through APIs.

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Keywords: Citi, Payment Initiation Service Provider (PISP), Open Banking, UK, API
Countries: World