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Investment bank Citi develops Open Banking marketplace for fintechs

Thursday 24 December 2020 09:36 CET | News

Investment bank Citi has started building an Open Banking marketplace where third party fintechs can sign data access agreements to customer-approved accounts with eight startups and data aggregators.

The first companies covered by the data-sharing agreement include BillGO, eMoney, Envestnet Yodlee, Expensify, Finicity, Intuit, MX, and Xero.

The news comes after Citi granted 4G Capital a USD 2.6 million term loan in October 2020. According to Fintech Global, this move helps the fintech to better support the financial needs of 25,000 small businesses specialising in fast-moving consumer goods.

In November 2020, FinTech Global reported that Citi, through its investment arm Citi Ventures, had invested in Mexican venture Arcus, which stylises itself as a Fintech-as-a-service platform, marking its first investment into the emerging FinTech ecosystem in the country.


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Keywords: BillGO, eMoney, Envestnet Yodlee, Expensify, Finicity, Intuit, MX, Xero, fintech, APIs, Investment bank Citi, Citi
Categories: Banking & Fintech | Payments General
Countries: World
This article is part of category

Banking & Fintech