Citizens Bank partners with RAPID to offer unified banking services to corporate clients

KATHMANDU: Citizens Bank International said on Thursday it has partnered with API banking platform RAPID to allow corporate clients to access multiple banking services through a single interface.

The integration enables corporate customers to check account balances, download statements, transfer funds, make EMI payments and process salary disbursements using their own software or ERP systems. Businesses can link accounts via a “Connect with API Banking” option and manage most services online after a one-off registration at the bank.

Citizens Bank said the customer onboarding process mirrors mobile banking enrolment and that RAPID has digitised the customer consent step to improve convenience and transparency.

RAPID said it uses end-to-end encryption, multi-layer verification and advanced security protocols to protect digital transactions. The company added that these measures are designed to safeguard customer data and payments.

Ashitosh Sah, Business Head at Gokyo Labs, said the collaboration will change how Citizens Bank serves its corporate clients. “The partnership will bring a significant transformation in service delivery for Citizens Bank’s corporate clients,” he said. “By digitally integrating financial operations, the solution will substantially reduce the time, costs, and operational complexities faced by businesses.”

RAPID is an API-based platform that connects banks, fintech firms and digital service providers through a Banking-as-a-Service model. The company said its aim is to make API banking accessible to small, medium and large businesses while simplifying digital banking services.