FINANCIAL services company Citigroup Inc recently announced the launch of Citi Mobile Challenge in Asia Pacific, part of Citi’s drive to foster digital and mobile innovation in banking.
The challenge is a next-generation accelerator that combines a virtual hackathon with an incubator, a worldwide network of financial technology experts and Citi’s global sponsors and clients to discover solutions across more than 100 markets.
Developers from Asia Pacific and around the world are invited to build innovative solutions that are capable of running on Citi’s digital platform globally.
Registration for the challenge begins on Aug 19, and selected participants will demonstrate their concepts at events in Bangalore, Hong Kong, Singapore, and Sydney.
“From credit cards to ATMs, Citi has a history of embracing new technologies to transform how it serves clients. In Asia, recent examples of Citi’s innovation include the launch of Citi Smart Banking and the Citibank Express, innovations that have since been rolled out globally.
“Asia is home to a fast-growing financial technology community, and this initiative will help accelerate and uncover new and exciting opportunities for Citi to develop transformational approaches to banking,” said Citi Asia Pacific chief executive officer Francisco Aristeguieta.
“Through Citi’s Digital Acceleration programme, we have been unleashing the power of the tech community, developing new solutions and challenging ourselves on how we reimagine banking,” said Heather Cox, who is Citi chief client experience officer for Global Consumer Banking.
“Citi Mobile Challenge has helped us connect with top developers across the world, and we are excited to bring this opportunity to Asia Pacific.”
Citi will make available a variety of application programming interfaces from the bank and other leading financial and technology companies to help developers create real-world innovations that could function with existing Citi technology.
A panel of expert leaders will evaluate the solutions at each event.
Finalists compete for an opportunity to take their technologies into production with Citi’s support, a share of US$100,000 (RM382,000) in cash awards, and a suite of services from Citi Mobile Challenge sponsors, including the opportunity to participate in accelerator programmes and receive mentoring, office space and investment.
Citi Mobile Challenge in Asia Pacific follows successful launches in Europe earlier this year and in Latin America and the US last year.
Citi received nearly 2,000 submissions from more than 100 countries and hosted events in Buenos Aires, Bogotá, Silicon Valley, New York, Miami, Nairobi, Jerusalem, Warsaw and London. The company is currently working with several top innovations from previous Challenges to launch pilot solutions for consumer and business clients in various markets.
“Citi is deepening its engagement with developers and with new innovation hubs to integrate new solutions into our digital business in markets all over the world.
The Mobile Challenge in Asia will help Citi uncover fresh approaches to expanding financial inclusion through technology,” said Citi Digital Acceleration Global Programme Head Jorge Ruiz.
For details, visit www.citimobilechallenge.com and follow #CitiMobileChallenge.