Embracing Powerful Partnerships:Co-operation sometimes ‘always’ beats competition

Himanshu ShrivastavaManaging Director and Head of Digital, APAC and EMEA

Global Consumer Technology

Citibank NA

The opinions expressed in this presentation are solely those of the presenter and not necessarily those of Citi.

Citi does not guarantee the accuracy or reliability of the information provided herein.

PAST PRESENT FUTURE

Customer comes

to bank

– physically

Customer comes to bank

– digitally

Bank is present

where the customer

is digitally

• Enable more rapid, scalable, and

efficient re-use of our Services

• Drive improved cost and time-to-

market by de-coupling back-end

systems from applications

• Leverage the explosion of third-party

APIs to improve our products and

experiences – and to invent new ones

(Fintegration)

• Extend the distribution of our products

and services to new digital platforms

by meeting customers where they are

• Become an enduring part, if not

enabler, of the broader FinTech

ecosystem

Banks cannot do everything in-house. Banks that want to be successful will have to consider opening up

their transactional data to third-party developers and consume third party capabilities via APIs

Inside-inInside-out

(Partners, Trusted developers & Public)Outside-in

Meet Evolving Customer Expectations

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• “Datafied” customer interactions

• “Softwares” every activity and collects

live data

• Neurons of APIs, exchanging data

between activities in real time

• Nervous system of AI & ML to make

sense of data in real time

• Smart UX delivering Remarkable

Customer Experience3

What is a Smart Ecosystem?

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Retail / e-commerce

Airlines

Financial Services

Transportation

Conglomerate

Travel

Telecom

Social Media

Partnerships

Building Perceptual Scale through Smart Ecosystems

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Singapore

Hong Kong

Indonesia

Australia

Thailand

Taiwan

China

Malaysia

Our Partnership Ecosystem… is Growing

Why APIs

Without APIs With APIs

1Each partnership request is a bespoke technology

project

One time effort and investment in API build and

deployment

2Long cycle of requirements definition and agreeing

on interface contracts

Each partner has ready off the shelf standard APIs

to consume as Lego blocks

3 Long cycle of testing and validation between partiesTesting and validation is only at the partner’s end

and is rapid

4 Investment in bespoke infrastructure for connectionAll partners connect to standard gateway and

protocol

5Ongoing support and maintenance specific to a

partnerSingle support and maintenance

6 Limits the scale on partners Allows partnerships at scale

• Autonomous and Complete: reflects a customer transaction that should be fulfilled with single request

• Domain specific: descriptive, specific and self explanatory

• Built with strong security framework

• Clear error messages

• Good documentation with simulators and working examples

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What does a good API look like?

Documented in Citi API Developer Portal

Top down definition : Top down contract of business

functionality instead of exposing internal assets - Recipes not ingredients

JSON format : Minimize version support challenges

Exposed over Internet as REST web service

Functional and comprehensive sandbox

Open API build

API Security

OAuth 2.0 / MFA

Captcha protection for developer portal

Registrations on developer portal are Captcha protected

TLS Encryption

DDOS protection

Vulnerability assessment

Each API goes through an independent Vulnerability assessment / penetration test before deploying for commercial use

• Collaborative ecosystem of leading brands and developers

• Learn about APIs, API documentation, sign up for access, register & build new apps

• Access Citi sandbox & data and build/test working solutions quickly

• Enables new streams of value to clients, partners and developers

• Rapidly connect with third-party digital systems

• developer.citi.com

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Citi’s Global Developer Hub

• Power of NOW – never a perfect

time to get started

• Top-Down or Bottoms-Up – start

bottom-up and top-down will catch up

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• Power of Nudge – use every book of work item on your

plate to incrementally nudge on these levers

• Smart Bets – no large budgets for organization or tech

changes

• Test-Learn-Pivot – you continuously get closer to a

better state, learn tremendously and able to recalibrate

and correct

All this is fine… but HOW?

Thank you

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