Citi Mobile Challenge Launches to Fuel Innovation (Sept. 23, 2014)
Citi this week launched Citi Mobile Challenge, a global competition to facilitate new concepts among technology developers surrounding mobile banking and payments. Citi, which has teamed up with several technology firms, including Intuit, Plug and Play and Wearable World, will provide developers with tools to build solutions benefitting consumers through mobile applications or the Internet of Things, also called machine-to-machine communications. Individual developers, teams and companies have until Oct. 3 to register for the competition, and Citi will notify accepted participants on Oct. 10.
Citi will make available a variety of its APIs, including those that power Citi Mobile and Citi Wallet, to give developers an opportunity to create apps and other innovations that could function with existing Citi technology. Citi said it also will encourage developers to use APIs outside of Citi to support and add features to their innovations. No customer data will be shared.
A panel of entrepreneurs, investors and technology leaders in banking will review submitted innovations and select finalists, who will present at demonstration events in Silicon Valley, New York and Miami. Selected 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 bring their solution to customers, according to the announcement.
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