Hong Kong / New York Today Citi announced the top innovations from Citi Mobile Challenge in Asia Pacific. The global initiative invited developers to build solutions based on Citi's digital platform and present concepts at events across Asia Pacific.
Solutions that will receive a cash award of US$25,000 each include InstaPaisa (India), Simply Wall St (Australia), SmartLoan (Hong Kong), and WePay (Singapore). Visit the Citi Mobile Challenge website to learn more about these innovations.
"Citi Mobile Challenge is fostering the development of new solutions that embrace mobile and digital as the preferred channels for our customers," said Francisco Aristeguieta, Citi's Asia Pacific CEO. "The Citi Mobile Challenge has proven to be an extraordinary process through which we have identified and accelerated the deployment of solutions in the digital space to enhance the banking experience for our clients."
"We issued an open call to developers to submit bold, transformative banking solutions, and their response was overwhelming," said Heather Cox, CEO of Citi FinTech. "This was the biggest and most competitive Citi Mobile Challenge yet. These developer teams share our passion for FinTech, and solutions that engage, connect, serve and surprise."
Teams from 15 countries presented 72 working prototypes to Citi executives and technology influencers at four Demo Days in November held in Bengaluru, Singapore, Sydney and Hong Kong. Finalists competed for a share of US$100,000 in cash, an opportunity to explore bringing their technologies into production, and a suite of services from Citi Mobile Challenge sponsors. Entries were evaluated on impact, viability, user experience and functionality.
Citi Mobile Challenge Asia Pacific Award Recipients:
Throughout the program, Citi teamed up with a number of leading technology and financial services firms.
"With Citi Mobile Challenge Asia Pacific, we engaged more partners than ever before and together we reached a record number of developers and startups to expand our global FinTech network," said Jorge Ruiz, Global Head of Digital Acceleration at Citi. "PwC helped us launch our first curriculum and mentorship program and coordinated in-person coaching events prior to each Demo Day. IBM and several other companies contributed their own awards to Citi Mobile Challenge finalists, increasing the visibility and value for these startups."
Citi Mobile Challenge Sponsor awards include:
First held in Latin America in 2014, the Citi Mobile Challenge has traveled to the U.S., Europe, the Middle East, Africa and Asia Pacific, with participation from thousands of developers across more than 100 countries. For more information about Citi Mobile Challenge and the top innovations, visit www.citimobilechallenge.com and follow along on social media: #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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