Citi on Monday announced the launch of Citi Tech for Integrity Challenge (T4I) in India.
Tech for Integrity Challenge (T4I) is a global program from Citi that encourages technology innovators from around the world to create solutions to promote integrity, accountability and transparency in the public sector.
This initiative from Citi, in collaboration with private and public sector partners, will offer technology companies an opportunity to innovate in the areas of financial transactions, cyber security, financial education, grievance redressal, cutting red tape, and other such areas.
In India, T4I is supported by the Ministry of Electronics and Information Technology (MeitY), the Digital India Foundation, and several leading private sector companies including IBM, PwC, Microsoft, MasterCard, Facebook, Let’s Talk Payments and Wipro.
In 2015, Citi had launched the Citi Mobile Challenge in India and introduced the concept of open innovation in digital banking in the country. The launch of T4I extends this concept to the public sector and beyond.
Speaking on the occasion, Kartik Kaushik, Country Business Manager, Global Consumer Bank, Citi India, said, “We are delighted to bring the T4I initiative to India. The opportunity to leverage new technologies and introduce innovations that will accelerate digitization and foster transparency in the country, is unique and very satisfying”.
Encouraging open innovation and supporting innovators will continue to remain a strategic priority for Citi, he said.
As part of the T4I program, Citi and its partners will offer a structured virtual accelerator program including mentorship, webinars and workshops to innovators covering the commercial and technical aspects of their propositions. The Tech solutions received through this program will be evaluated by a jury, and selected finalists will have an opportunity to showcase their innovations to a wide and knowledgeable audience at ‘Demo Day’ events to be held in June in Hyderabad for India, and in four other countries.
Srivats.kr@thehindu.co.in