Citi today announced the launch of Citi Mobile Challenge, and this time the international competition will take place in Israel as well. In fact, this is the first time that Citi has opened up the competition to competitors from 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.
Registration for the Challenge will begin on February 23. Demo day in Israel will be on April 26, in Jerusalem, and selected participants will also demonstrate their concepts at events in Nairobi on April 22, 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.
Citi Israel CEO Neil Corney said, "There is no doubt that, in recent years, fintech in Israel has developed led by Citi's development lab and its accelerator program, which helps entrepreneurs develop products for banking and the global finance industry. As part of our commitment to promoting fintech, I am proud to bring to Israel another initiative that will provide a way forward for entrepreneurs in this field."
“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 US, and we are excited to bring this opportunity to Jerusalem, London, Nairobi and Warsaw.”
Citi Mobile Challenge in EMEA follows highly successful programs in Latin America and the US. Citi is currently evaluating several pilots from the top innovations presented at previous Challenges.
Published by Globes [online], Israel business news - www.globes-online.com - on March 9, 2015
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