Citi launches Citi Tech for Integrity Challenge
MUMBAI: Banking giant Citi has launched the Citi Tech for Integrity Challenge (T4I) – a global program that brings on board 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, the Digital India Foundation and several leading private sector companies including IBM, PwC, Microsoft, MasterCard, Facebook, Let’s Talk Payments and Wipro. T4I aims to extend the concept of open innovation in digital banking to the public sector and beyond.
"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," said Kartik Kaushik, Country Business Manager, Global Consumer Bank, Citi India.
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.
Stakeholders in the program have identified 73 pain points for which startups, tech SMEs and large tech companies will offer possible solutions. 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 as well as Mexico, Argentina, Ireland and UAE.
Finalists will receive a host of rewards including cloud credits, fast-track access to accelerator programs, access to financial inclusion hubs as well as technical and SME mentoring for scaling up solutions. Financial assistance too will be provided by the key stakeholders though Citi declined to comment on the investment set aside for the same.
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, the Digital India Foundation and several leading private sector companies including IBM, PwC, Microsoft, MasterCard, Facebook, Let’s Talk Payments and Wipro. T4I aims to extend the concept of open innovation in digital banking to the public sector and beyond.
"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," said Kartik Kaushik, Country Business Manager, Global Consumer Bank, Citi India.
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.
Stakeholders in the program have identified 73 pain points for which startups, tech SMEs and large tech companies will offer possible solutions. 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 as well as Mexico, Argentina, Ireland and UAE.
Finalists will receive a host of rewards including cloud credits, fast-track access to accelerator programs, access to financial inclusion hubs as well as technical and SME mentoring for scaling up solutions. Financial assistance too will be provided by the key stakeholders though Citi declined to comment on the investment set aside for the same.
