US bank Citizens has unveiled a new Open Banking API, giving its customers the ability to access their financial data more easily and securely through apps such as budgeting software and accounting platform apps.
The new Citizens Open Banking API, which is built to Financial Data Exchange (FDX) standards, will allow clients to view their bank account balances and transactions within their “preferred external systems”.
It has been designed to support Citizens’ retail, business, commercial, wealth and private banking clients, by enabling better financial planning, budgeting and increased access to personalized financial products.
In a press statement, Citizens said the design of the Open Banking API also enables it to “expedite the release of new features that rapidly integrate with connected platforms, fintechs and data aggregators”, all while eliminating the risks associated with screen scraping.
“Open Banking is about providing our customers with the flexibility and control they need over their financial data,” said Michael Ruttledge, chief information officer and head of enterprise technology and security at Citizens.
“This enables our customers to access their banking information wherever they spend their time.”
Citizens’ consumer banking products and services include a full range of banking, lending, savings, wealth management and small business offerings.
In commercial banking, Citizens offers a range of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities.
“Our goal is to ensure a seamless and secure user experience,” added Taira Hall, Citizens’ head of enterprise payments.
“We are dedicated to making our clients’ lives simpler, while safeguarding their data with robust protection at every step.”
Open Banking Expo USA is taking place on June 26, 2025 in New York. Click here to find out more about speaking, exhibiting and to register to attend.
