Transaction bank tracked in the Embedded Finance Index. Named by 5 companies, most often as their fx & payouts. Sells embedded finance as Citi Banking as a Service.
TypeTransaction bank
OfferingCiti Banking as a Service
Used asFX & payouts, Banking-as-a-Service, Card issuer
Rank#50 of 179 in FX / Payouts
Buyers5 companies
HeadquartersNew York City, NY, USA
Founded1812
Claim this profile. Work at Citi? Verify your work email to unlock the full buyer list.
How companies use Citi
5 companies name Citi in their stack. The most common role is fx & payouts (3). A company can use the same bank for more than one thing. Compare it with what Citi says it sells, below.
Citi Services sells embedded finance as platform plays for e-commerce companies, fintechs and marketplaces, built on virtual accounts. It pairs them with Spring by Citi and Payments Express so a platform can accept, hold and pay out funds with one bank, and says the model is designed not to compete with its clients' core business.
“Citi's BaaS solution transforms banking relationships into strategic collaboration, providing businesses with the financial tools and global expertise needed to thrive in an evolving digital landscape.”
services.citi.com ↗
What it offers
- Virtual account wallet. API-native US accounts and payments embedded in the client's platform.
- Payer ID. Virtual IBANs for receivables reconciliation and fintech collections.
- Spring by Citi. Digital payment acceptance combining PSP and bank services.
- Global payouts. WorldLink cross-border payouts to accounts, cards and wallets; 24/7 USD clearing.
Sells to
e-commerce platformsmarketplacesfintechsPSPscorporatesfinancial institutions
Claims and record
- Domestic ACH and wire payments in 90 markets through direct clearing membership. services.citi.com ↗
- Spring by Citi live in 23 markets, Payments Express in 20, Payer ID in 11 (Tearsheet, July 2025). tearsheet.co ↗
The bank’s own positioning and claims, checked against its pages 2026-10. Partners named here come from the bank and are not counted as buyer disclosures.
Compare how banks sell embedded finance.
Citi’s APIs · from Open Banking Tracker
Citi publishes a developer portal with 7 API products, and 6 aggregators connect to it.
Readiness
PSD2 in progress · OB ready
Background · from Citi’s own dossier
Founded in 1812 as a commercial bank, Citi became a global financial conglomerate following the 1998 Travelers merger before returning to a banking-focused model after the 2002 Travelers spin-off. Over the past decade, Citi has pursued a dual strategy: operating as a Tier 1 global transaction bank for institutions (Treasury & Trade Solutions, commercial cards, cross-border payments) while increasingly embedding financial products — consumer credit, BNPL, lending — into merchant and retailer checkout flows via Citi Pay. The 2022–2026 period also sees Citi positioning its own infrastructure as a BaaS offering for fintechs and e-commerce players, leveraging its global banking licenses rather than partnering with third-party BaaS providers.
Recent developments
- 2023-05Citi Retail Services launched the Citi Pay suite of embedded payment and financing products for merchant partners, including revolving lines of credit and installment loans at checkout. source ↗
- 2026-03Citi's Will Artingstall discussed the bank's growing BaaS business within its Services division, serving fintech and e-commerce clients with banking infrastructure. source ↗
- 2026-09Citi and Coinbase expanded their partnership: Coinbase selected Citi's Virtual Account Wallet (Citi Services BaaS) to power Coinbase Virtual Accounts, and Citi enabled institutional clients to accept stablecoin payments at checkout via Spring by Citi, with Coinbase Payments powering acceptance/conversion and Citi settling funds as the bank of record. source ↗
- 2025-10Committed, alongside 20 other financial institutions (including Bank of America, Goldman Sachs, Deutsche Bank, Santander, UBS, Barclays, BNP Paribas, MUFG, TD, Wells Fargo), to forming a joint stablecoin issuer for cross-border payments and digital-asset settlement — the entity is expected to be established in H2 2026, with a USD stablecoin targeted for H1 2027. Not a live product as of this writing. source ↗
Who uses Citi
5 companies disclose Citi in their stack
Buyer mix · 5 of 5 classified
E-commerce / Platform · 1Fintech / Cross-border payments · 1Fintech / Crypto · 1Marketplace / Travel · 1Telecommunications / Consumer · 1
What the disclosures say
Rextie“Rextie homepage and nosotros page state: 'La integración de la tecnología de última generación en cambio de divisas de Citi impulsará la expansión de Rextie...”
THG“THG press release (Nov 2019): '£510m Term Loan B and £150m Revolving Credit Facility, fully underwritten by Barclays, HSBC, Citi and Santander.' This is corporate debt financing for THG's own balance sheet, not an embedded lending product for customers.”
Coinbase“ClearBank publicly lists Coinbase as a customer (clear.bank); Coinbase Business page describes operating account with USDC yield and global payments (coinbase.com/business); Coinbase One account protection page (help.coinbase.com)
Added 2026-09-30: Citi's Virtual Account Wallet (BaaS) powers Coinbase Virtual Accounts…”
View source · coinbase.com ↗
Att Renews Multi Year“IBS Intelligence lists AT&T as a customer in the context of 'Citi and AT&T renews multi-year credit card collaboration agreement', confirming Citi as the card issuing/co-brand partner.”
Getyourguide“The RCF and equity rounds are corporate financing for GetYourGuide itself (UniCredit, BNP Paribas, Citi, KfW, KKR), not embedded lending products.”
The complete buyer list and each company’s full embedded-finance stack are in the
Embedded Finance Index report. Represent Citi? Claim this profile above to unlock your own full list.
Sample distribution — illustrative only, not Citi’s actual buyers.
🇺🇸 United States · 40🇬🇧 United Kingdom · 22🇩🇪 Germany · 14🇮🇳 India · 12🇫🇷 France · 9🇸🇬 Singapore · 7🇦🇺 Australia · 6🇧🇷 Brazil · 5+2 more
What Citi runs on · from its own dossier
The third-party providers Citi itself discloses, layer by layer — the vendor as a buyer. Distinct from the companies above that disclose Citi.
Other banks in FX / Payouts
Other banks named for FX / Payouts in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.
Share this rank
An embeddable badge for Citi’s own site — it always shows this page’s current rank, so it stays accurate as new disclosures land. States its own denominator; never claims a number this page doesn’t.
Copy-paste snippet
<a href="https://www.embeddedfinanceindex.com/vendors/citi?ref=badge">
<img src="https://www.embeddedfinanceindex.com/api/badge/citi.svg"
alt="Ranked #50 of 179 in FX / Payouts — Embedded Finance Index 2026">
</a>
<img src="https://www.embeddedfinanceindex.com/api/badge/citi/install" width="1" height="1" alt="" style="display:none">Citi — frequently asked
What do fintechs use Citi for?
Citi is a transaction bank. Companies in the Embedded Finance Index 2026 name it as their fx & payouts (3), banking-as-a-service (1) and card issuer (1).
Does Citi offer embedded finance?
Yes, as Citi Banking as a Service. Citi Services sells embedded finance as platform plays for e-commerce companies, fintechs and marketplaces, built on virtual accounts. It pairs them with Spring by Citi and Payments Express so a platform can accept, hold and pay out funds with one bank, and says the model is designed not to compete with its clients' core business.
Who founded Citi?
Citi was founded by Samuel Osgood and is founded in 1812, headquartered in New York City, NY, USA.
Benchmark your own stack
Request an embedded finance strategy assessment
Get a read on where your own stack stands against Citi and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.
- →Your category, mappedHow your stack compares to Citi and the other buyers it serves.
- →Build vs. buyWhere a provider relationship would close a gap faster than building it.
- →A named analyst, not a form replyA short call to scope what's actually worth assessing for you.