Today In Digital-First Banking: CitiConnect Processes 1 Billion Calls Since Rollout; NY Fed: Consumers Bolster Spending Expectations

In today’s top news in digital-first banking, Citi announced that its application programming interface (API) connectivity platform has processed more than 1 billion API calls since its 2017 launch, while consumers increased their expectations for spending, inflation and home prices. Plus, Mastercard and Doconomy have collaborated to develop the Mastercard Carbon Calculator.

CitiConnect API Has Processed 1 Billion Calls Since Launch

Citi said Monday (April 12) that its API connectivity platform has handled in excess of 1 billion API calls as of its 2017 rollout. CitiConnect provides more than 83 APIs — like requests for foreign exchange (FX) rates, account balance questions and payment status reports — to offer live, frictionless banking experiences to customers.

NY Fed: Consumers Increase Expectations For Spending, Inflation, Home Prices

U.S. consumers bolstered their expectations for home prices, inflation and spending in March, according to the Federal Reserve Bank of New York. Consumers’ expectations for household income increased by a median of 0.4 percentage points to 2.8 percent in March. Their expectations of household spending rose for the third consecutive month to a median of 4.7 percent in March.

Mastercard Launches Tool For Banks To Help Consumers Calculate Carbon Footprint

Mastercard and Doconomy, a Swedish FinTech, have worked together to build out the Mastercard Carbon Calculator. The functionality, which is now integrated throughout Mastercard’s global network, is simple for banks to adopt and tailor for eco-conscious consumers “who are looking for more ways to be informed about their spending,” according to a press release.

Corporate One’s Funding Management Service Now Live For CUs On RTP Network

Corporate One Federal Credit Union announced that its funding agent service is now live for credit unions (CUs) on The Clearing House’s real-time payments (RTP) network. The offering enables around-the-clock funding management for these institutions. Crane Credit Union is the first CU to harness Corporate One as its funding agent.

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