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Xero teams up with Citi for Open Banking system

Tuesday 19th June, 2018

Xero has announce a new partnership with Citi to take another step forward towards an open banking system.

Citi has been a leading advocate for open banking with its open-source tool Citi® Developer Hub designed to integrate with fintech companies and consumer brands to create new experiences for their customers globally.

The partnership allows Citi’s Open Banking proposition utilising an open standard, enabling mutual small business customers to grant Xero access to their Citi account information without providing their Citi login and password.

Xero America’s President Keri Gohman says, “Xero is pleased to partner with Citi to help small business owners put their financial data to work. This is an exciting step forward in our progress towards building a financial web that makes it easy for small businesses to connect with their bank and their accountant to better understand how money is flowing in and out of their business.”

The collaboration is the latest in a number of relationships Xero has built with financial institutions around the world including NAB in Australia, Barclays in the UK, DBS in Singapore and ASB in New Zealand, that build a financial web to give businesses greater access and opportunities to grow using their financial data.