Citi Announces Top Innovations from Citi Mobile Challenge in Jerusalem, London, Nairobi, and Warsaw
May 28 2015 - 7:00AM
Business Wire
Global Financial Technology Challenge showcases
new FinTech solutions fueling innovation and inclusive finance
Today Citi announced the top innovations from the Citi Mobile
Challenge in Europe, the Middle East and Africa (EMEA). This global
initiative launched in EMEA in February and invited developers to
build solutions based on Citi’s digital platform and present
concepts at events in Jerusalem, London, Nairobi and Warsaw.
Solutions that will receive a cash award of $25,000 each include
“Swave” from Swave, “Umati Supply Chain Finance Solution” from
Umati Capital, “The Kytabu app” from Kytabu Inc. and “Trade It”
from Trade It.
“Each award recipient demonstrated a maniacal focus on creating
a truly distinctive client experience. Without that focus it will
be difficult to be successful over the long-term,” said Jim Cowles,
CEO of Citi for Europe, the Middle East and Africa. “As banks
continue to redefine themselves, they must work with the broader
FinTech community to discover fresh ideas that can help create the
client experience of tomorrow. That’s why we’re here and that is
what will help determine our long-term success.”
“We invited technology developers to reimagine digital banking
and they went far beyond,” said Heather Cox, Chief Client
Experience, Digital and Marketing Officer for Global Consumer
Banking at Citi. “They presented solutions that could transform
financial services and fuel progress in other industries like
transportation and education. These developers are truly inspiring.
Selecting the top innovations was a challenge and we are excited to
explore bringing their solutions to market.”
Teams from 18 countries presented 77 working prototypes to Citi
executives and technology influencers at four Demo Days in April
held in Jerusalem, London, Nairobi and Warsaw. Finalists competed
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. Entries were
evaluated on their impact, viability, user experience and
functionality.
Citi Mobile Challenge EMEA Award Recipients:
- Most Innovative Customer Engagement
Solution: “Avoka Transact” from Avoka
- Best Social Commerce Solution: “Elma –
Mobile Commerce Payment” from Craft Silicon
- Most Visionary Social Media Solution:
“GetGems - Instant Payments Across Social Platforms” from
Decentralized Mobile Applications Ltd.
- Best Social Innovation Solution: “The
Kytabu app” from Kytabu Inc.
- Most Transformative Customer Servicing
Solution: “Mobile Banking for Visually Impaired” from Allianz
Managed Operations and Services India
- Best User Experience: “Namu Mobile
Banking Platform” from Namu Systems
- Most Innovative Blockchain Solution:
“P2P Payment & Wallet Platform” from Billon
- Best Digital Wallet Solution:
“Superwallet” from Finanteq
- Most Intuitive Consumer Solution:
“Swave” from Swave
- Most Innovative Trading Solution:
“Trade It” from Trade It
- Most Innovative Solution for
Businesses: “Umati Supply Chain Finance Solution” from Umati
Capital
Citi Mobile Challenge sponsors IBM, MasterCard and Uber also
contributed awards to the program and named their recipients.
IBM awarded the “Most Innovative Use of Bluemix” to one team
from each Demo Day. Entrepreneurs and start-ups will receive access
to the IBM Global Entrepreneur Program for Cloud Start-ups with
$12,000 of IBM Cloud credit - and eligibility of up to $120,000 of
free IBM Cloud credit - while other recipients will be eligible for
as many as 80 hours of technical support and assistance over six
months. The IBM award recipients are:
- “ENT-Mobile Core Products and Services”
from ENT-Mobile
- “GetFit” from Vortex
- “All the Possibilities” from
gameCon
- “Digital Allowance” from Accenture
PLC
MasterCard announced several award recipients, four of whom will
be awarded a week-long immersion and mentorship program in
MasterCard’s European startup engagement program; Start Path
Europe, based in Dublin, and one of them will be given the
opportunity to pitch for a spot in the next intake class of
MasterCard Start Path Europe. MasterCard Start Path Europe
provides: mentorship from a global pool of; MasterCard experts;
introductions to MasterCard partners to explore pilot
opportunities; and the ability to leverage existing MasterCard
solutions.
- “MobiTill” from Data Integrated
Limited
- “nFrnds – connecting the unconnected”
from VascoDe Technologies
- “Swave” from Swave
- “Swipe Save Invest” from Palyon
First held in Latin America and the U.S. in 2014, the Citi
Mobile Challenge has received participation from thousands of
developers across 101 countries. “We are so pleased with the
response we have received in Latin America, the U.S., Europe, the
Middle East and Africa,” added Jorge Ruiz, Digital Acceleration
Global Program Head, Citi (Global Consumer Bank). “Citi plans to
expand the Mobile Challenge to Asia later this year to deepen
developer engagement, connect directly with new innovation hubs,
and uncover fresh approaches to expanding financial inclusion
through technology.”
For more information about Citi Mobile Challenge, visit
www.citimobilechallenge.com and follow along on social media:
#CitiMobileChallenge.
About Citi
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.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
http://blog.citigroup.com | Facebook: www.facebook.com/citi |
LinkedIn: www.linkedin.com/company/citi
© 2015 Citigroup Inc. Citi, Citi and Arc Design, Citibank and
Arc Design are registered service marks of Citigroup Inc.
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CitiMedia:Deirdre Leahy, (212)
559-3296deirdre.leahy@citi.comorAdam Castellani, +44 (0) 207 986
5608adam.castellani@citi.com
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