Citi makes strategic investment into Genesis to drive innovation

Genesis Global Technology has completed a strategic investment from Citi to support its innovation efforts for the Low-Code Application Platform (LCAP).

The investment from Citi came through the Markets FinTech Investments and SPRINT groups division.

The platform enables financial firms to accelerate the delivery of technology roadmaps with a focus on identifying digitalisation opportunities. These help to increase business workflow efficiencies and reduce costs, it claims.

It claims to differ from other low-code providers by being tailored for specific requirements within the financial market. Its technology can deliver simple business process management improvements, but also address complex use cases.

Companies have been forced to accelerate their digitalisation efforts due to the coronavirus pandemic and Genesis can help them digitise manual workflows and better position themselves for remote working.

Citi managing director Nikhil Joshi said, “The Low-code application development paradigm has increasingly gained momentum in the financial industry and has the potential to change the way the industry develops applications in the future. Genesis complements our mainstream application development methodologies, and integrates with them quite well. We are very much looking forward to partnering with Genesis to accelerate Citi’s digitization journey.”

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