Singapore Citi is pleased to announce the three award recipients from Citi's Tech for Integrity Challenge (T4I) Demo Day held June 9 in Singapore.
T4I is a landmark effort of Citi to encourage technology innovators from around the world to create cutting-edge solutions to promote integrity, accountability and transparency in the public sector and beyond. Awards accorded to the winners include a total of US$5.5 million in kind and cash for the global Challenge.
The event in Singapore brought together 17 FinTech developers from eight countries, out of which five were home grown, to present their working prototypes to a panel of judges. The judges included Sopnendu Mohanty, Chief FinTech Officer of the Monetary Authority of Singapore, representatives from Mastercard, Clifford Chance, LetsTalkPayments, Microsoft, PwC, UNDP Global Anti-Corruption Initiative and selected Citi senior executives.
The award recipients from the Singapore Demo Day include:
In addition to these awards, Citi's allies will announce additional awards in the coming weeks. Award recipients will also have the opportunity to work with any business, organization or government interested in exploring innovative integrity tools.
Amol Gupte, Head of ASEAN and Citi Country Officer for Singapore, said: "Digital technologies are changing the way people interact and make choices. We see Citi's T4I initiative as a catalyst for change, bringing together technology companies and industry players from around the world to develop solutions for our clients in the public and private sectors. By holding the event in Singapore, it is also supports our continued efforts to further Singapore's goal to be a leading FinTech hub."
"The Citi Tech for Integrity Challenge has successfully crowdsourced game-changing solutions to help public and private sector entities tackle global integrity challenges," said Jay Collins, Vice Chairman of Corporate and Investment Banking at Citi. "The solutions showcased in Singapore highlight how frontier technologies can be applied and implemented to drive integrity."
"At Citi we have used open innovation and collaboration to accelerate the digital transformation of the bank. T4I is structured as a global competition for open innovation, in which companies of all types or sizes can present technological solutions to promote transparency. Through crowdsourcing, and in collaboration with allies and startups, we have bridged the gap between the traditional and future world of financial services," said Laura Gaviria Halaby, Global Head of Citi FinTech Acceleration.
In addition to Singapore, T4I has held Demo Days in Abu Dhabi, Buenos Aires, Dublin and Mexico City. The final stop of the Challenge will take place in Hyderabad on June 13.
Citi's T4I allies include countries and other public and private sector entities looking to bring outside innovation inside their organizations. T4I strategic allies include Clifford Chance, Facebook, IBM, Let's Talk Payments, Mastercard, Microsoft and PwC.
Citi teams from across the company and around the world contributed to T4I, including Citi FinTech, Citi Treasury and Trade Solutions, the Public Sector Group and Citi Ventures.
For more details on the Citi Tech for Integrity Challenge, please refer to the T4I website: www.techforintegritychallenge.com.
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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