New York Today Citi announced the top innovations from the Citi® Mobile Challenge U.S., a groundbreaking global initiative that invites technology developers to reimagine digital banking and fuel innovation in the financial industry.
Solutions that will receive a cash award of $20,000 each include "Citi Wallet for Small Business" from Team Spydy, "Concierge app" from EPAM, "Mobile Withdrawal" from Centric-Consulting, "Piggi" from Critical Mass, "PopMoney on Android Wear" from Apptivation and "Swift Banking" from Dogtown Media.
"The Citi Mobile Challenge has been an incredible platform for us to partner with thriving developer ecosystems in an unprecedented approach for the financial industry," said Heather Cox, Chief Client Experience, Digital and Marketing Officer for Global Consumer Banking at Citi. "Developers submitted so many innovative solutions to Citi and we were so impressed by our finalists' presentations that we expanded the pool of awards for the U.S. Challenge. We are excited to work with many of the top teams of developers with the goal of bringing their solutions to market for Citi clients all over the world."
More than 60 teams presented concepts to Citi executives and technology influencers at three Demo Days held in November in Silicon Valley, New York and Miami. Their entries were evaluated on their impact, viability, user experience and functionality.
First held in Latin America earlier this year, the Citi Mobile Challenge received participation from more than 3,000 developers across 740 teams representing 62 countries in North America, Latin America, Europe, the Middle East, Africa and Asia. Citi plans to expand the Mobile Challenge events to cities in Europe, the Middle East and Africa in early 2015 to deepen the bank's developer engagement, connect directly with new innovation hubs, and uncover fresh approaches to driving financial inclusion through technology.
"The initial success of the Citi Mobile Challenge is a testament to the breadth of opportunities for fintech innovation across mobile and the internet of things," said Heather Cox. "We are looking forward to partnering with solutions we uncover and to bringing the Citi Mobile Challenge to EMEA in 2015."
Citi Mobile Challenge U.S. Award Recipients:
Additional awards from Citi Mobile Challenge Collaborators and Enablers will be announced in the days ahead.
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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