New York Today Citi launched Citi Mobile ChallengeTM, a groundbreaking global initiative aimed to inspire technology developers to reimagine mobile banking and payments and to stimulate digital progress in the industry. Citi will provide developers with a suite of tools they can use to build solutions to benefit consumers either through mobile applications or the Internet of Things. Selected participants will present their concepts at demonstration events in Miami, New York and Silicon Valley and finalists will have the chance to take their technologies into production with the support of Citi.
"Citi has long been a leader in innovating the client experience through technology, from pioneering the ATM to introducing the first mobile banking app. We want to drive the next innovations that improve consumers' lives, and we created the Citi Mobile Challenge with that in mind," said Heather Cox, Chief Client Experience, Digital and Marketing Officer for Global Consumer Banking at Citi. "We are excited to discover what these developers will bring and we are challenging them to be bold and break new ground."
Citi has teamed up with a number of leading technology firms, including Intuit, Plug and Play, and Wearable World, to connect with the developer community.
"Intuit is deeply committed to delivering fantastic experiences for our customers through innovation," said Avi Golan, Vice President and General Manager, Intuit Partner Platform. "The Citi Mobile Challenge is a great way to get our Customer Account Data API in the hands of some of the most passionate and innovative developers out there as they look to create new mobile experiences."
"Mobile devices and local transactions are taking over our lives. We see tremendous potential for growth in the financial technology space including: mobile payments, digital currency, wearables, authentication, security and data analytics," said Plug and Play CEO and Founder Saeed Amidi. "We are actively extending our Financial Technology Accelerator and partnering with Citi for the Citi Mobile Challenge provides a great opportunity to jointly review the most innovative companies in this space. Plug and Play will host the Nov. 10 Citi Mobile Challenge demo day at its Silicon Valley center in Sunnyvale."
"Despite how relatively nascent the wearable market seems to be, forward-thinking companies like Citi see the remarkable potential it holds for them and their customers," said Redg Snodgrass, founder and CEO at Wearable World. "We provide the support for this explosively growing ecosystem rapidly forming around their vision for wearable technology."
Individual developers, teams and companies from around the world will have an opportunity to register for the Challenge until Oct. 3. Citi will notify accepted participants on Oct. 10. Following that, over the course of nine days in October, Citi will make available a variety of APIs from across its businesses to help developers create real-world innovations. The APIs power some of Citi's latest digital offerings such as Citi Mobile® and Citi WalletSM and will give developers an opportunity to create apps and other innovations that could function with existing Citi technology. Visit www.citimobilechallenge.com for more information on which APIs will be available. No customer data will be shared. Citi will also encourage developers to use APIs outside of Citi to support and add additional features to their innovations.
A panel of entrepreneurs, investors and leaders in technology and banking will review submitted innovations and will select finalists, who will present at the demonstration events in Silicon Valley on Nov. 10, New York on Nov. 12, and Miami on Nov. 14. Selected developers will have the opportunity to consult with technology mentors, share in a cash award and connect with Citi's partners with a chance to take their solution to real world clients. Citi's vast global footprint offers developers a unique opportunity to have their ideas implemented in markets all over the world.
Citi Mobile Challenge in the US follows a highly successful program at Citi in Latin America earlier this year. Citi Mobile Challenge LatAm brought together nearly 500 developers from around the world to present consumer and B2B projects in Buenos Aires, Argentina and Bogota, Colombia. Citi is currently evaluating several pilots from winning solutions presented at Citi Mobile Challenge LatAm including:
For more information about Citi Mobile Challenge, visit www.citimobilechallenge.com for more information on which APIs will be available and follow along on social: #CitiMobileChallenge.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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