Do you have an idea that could transform the digital banking landscape? Now’s your chance to make it a reality (and to partner with one of the world’s premier financial institutions in the process).
Citi has officially launched a new global “mobile challenge” – a virtual competition designed to accelerate digital banking innovation. The Citi® Mobile Challenge will give the world’s most talented, creative developers and designers the opportunity to create cutting-edge applications for Citi’s digital banking platforms.
EarlyShares is proud to be an official Collaborator in this exciting initiative. Developers and designers interested in participating must apply by Friday, October 3 to be considered.
How it Works
If you’re interested in creating a banking- or payment-related solution for mobile or interconnected devices, register for the Citi® Mobile Challenge here. (You can register your whole dev team or join an existing one.) On October 10, Citi will notify registrants who have been selected.
Following that, over the course of nine days in October, Citi will make available a variety of its APIs to enable the developers to create real-world innovations that could function with existing Citi technology. Participants will submit their final concepts or prototypes on October 19.
A panel of entrepreneurs, investors, and leaders in technology and banking will review submitted innovations and select the finalists, who will present at the demonstration events in Silicon Valley on November 10, New York on November 12, and Miami on November 14. EarlyShares Co-Founder & CSO Heather Schwarz-Lopes will serve on the review panel and be a judge at the Miami event.
Winning developers will have the opportunity to consult with technology mentors, share in a cash award, and connect with Citi’s partners for a chance to put their solutions into production. There will be $100,000 in prize money available, with $50,000 for the most Innovative Mobile Solution category and $50,000 going to the best Internet of Things/Wearables concept category.
Through the collaboration with EarlyShares, Citi will also refer a small selection of eligible Mobile Challenge participants to EarlyShares for potential investment offerings on our platform.
Why It’s a Big Deal
Though this is first time Citi’s hosted a global Mobile Challenge, the competition is not a new idea. The company’s 2014 ‘Citi® Mobile Challenge LatAm,’ which wrapped up in April, brought together nearly 500 developers from around the world to present consumer and B2B projects in Buenos Aires, Argentina and Bogota, Colombia. Citi is currently evaluating several interesting pilot projects that came out of the LatAm program, including a personalized e-retail app, B2B mobile commerce platform, and a mobile customer service solution.
As PandoDaily recently reported, Citi’s foray into the innovation ecosystem through the Mobile Challenge initiatives represents their commitment to “bringing the banking industry into the 21st century.” As Collaborator in the competition, EarlyShares is proud to be helping Citi pursue that goal.
For more on the Citi Mobile Challenge, go to citimobilechallenge.com.