Citi today announced the launch of Citi Mobile Challenge in Europe, the Middle East and Africa, the latest part of Citi’s global Digital Acceleration effort to foster innovation within the banking industry. The virtual competition invites developers from around the world to build innovative solutions based on Citi’s digital platform. Citi’s vast global network gives developers an opportunity to have their ideas put in place in markets all over the world.
“We anticipate that the Citi Mobile Challenge will help us to create a truly distinguished experience for our clients while uncovering fresh approaches for broader financial inclusion.”
Registration for the Challenge will begin on Feb. 23, and selected participants will demonstrate their concepts at events in Nairobi on April 22, Jerusalem on April 26, Warsaw on April 28, and London on April 30. A panel of industry experts and financial technology leaders will evaluate the solutions at each event. Finalists compete for an opportunity to take their technologies into production with Citi’s support, plus a share of $100,000 in cash awards and a suite of services from Citi Mobile Challenge sponsors.
“From credit cards to ATMs, Citi has a history of maximising the benefits of new technologies to transform how it serves clients. Now is the right time for the banking industry to focus its efforts on redefining itself amid rapid advancements in technology. One of the ways Citi is doing this is by tapping the creativity and expertise of top innovation hubs around the world and here in the region including our centres in Tel Aviv and Dublin,” said Jim Cowles, CEO of Citi for the Europe, the Middle East and Africa region. “We anticipate that the Citi Mobile Challenge will help us to create a truly distinguished experience for our clients while uncovering fresh approaches for broader financial inclusion.”
“Through Citi’s Digital Acceleration program, our goal is to unleash the power of the tech community, develop new solutions and change the way banks have traditionally approached innovation,” said Heather Cox, Chief Client Experience, Digital and Marketing Officer for Global Consumer Banking at Citi. “Citi Mobile Challenge has helped us connect with top developers in Latin America and the U.S., and we are excited to bring this opportunity to Jerusalem, London, Nairobi and Warsaw.”
Individual developers, teams and companies will have an opportunity to register for the Challenge until March 6. Citi will make available a variety of APIs to help developers create real-world innovations that could function with existing Citi technology.
Citi Mobile Challenge in EMEA follows highly successful programs in Latin America and the U.S. in 2014. In Latin America, Citi received 150 submissions and hosted 50 finalists at events in Buenos Aires and Bogotá. Citi Mobile Challenge U.S. received 744 submissions from 62 countries and hosted 60 finalists at events in Silicon Valley, New York and Miami. Citi is currently evaluating several pilots from the top innovations presented at previous Challenges.