"The bank began developing the new framework in 2023 under Financial Data Exchange (FDX) standards, phasing out older patchwork APIs and the risk of screen scraping. The beta arrived in mid-2024, with the full launch in Q1 2025. The new API framework gives business, commercial, wealth, and private banking customers the same access through a single endpoint, making integration easier for fintechs and platforms with mixed user bases."
"The system adjusts its data output based on the account type. In the longer term, the move positions the bank for faster collaboration with fintechs and data aggregators, creating pathways for new services to reach customers more quickly. For both businesses and individuals, this could mean smarter financial planning, more tailored products, and an improved banking experience that blends well with the tools they already use."
Citizens Bank modernized its open banking API framework, developing the new system in 2023 under Financial Data Exchange (FDX) standards and replacing older patchwork APIs that risked screen scraping. A beta launched in mid-2024, followed by full rollout in Q1 2025. The framework exposes a single endpoint that serves business, commercial, wealth, and private banking accounts while adjusting data output by account type. The unified endpoint simplifies integration for fintechs and mixed-user platforms, reduces integration complexity, and positions the bank for faster collaboration with fintechs and data aggregators, enabling smarter planning, tailored products, and improved customer experiences.
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