Citi invests in fintech Genesis for its low code application platform

Genesis Global Technology announced an investment from Citi’s Markets FinTech Investments and SPRINT groups for the fintech’s “Low-Code Application Platform” (LCAP). The amount and terms of the investment are undisclosed.

LCAP is software used to create applications through GUIs rather than hand-coded computer programming. Developed specifically for the financial markets, Genesis’ LCAP is used for addressing: direct automation use cases, such as End User Computing (EUC) replacement and client servicing portals; complex opportunities including automating end-to-end electronic trading workflows; and mobile framework applications.

Solutions can be developed on average 80% faster than building from scratch, said Genesis’ chief exec Stephen Murphy, in a statement. Nikhil Joshi, managing director and global head of Spread Products Technology and Head of Markets Technology for NAM at Citi, said in a statement: “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.”

Read the full release

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