Citi today announced the three award recipients from Citi’s Tech for Integrity Challenge (T4I) Demo Day in Dublin, held on May 18.
The event brought together FinTech developers from eight countries to present their working prototypes to a panel of judges as part of T4I, a landmark effort to encourage technology innovators from around the world to create cutting-edge solutions to promote integrity, accountability and transparency in the public sector and beyond.
The award recipients from the Demo Day included:
• T4I Award – AID:Tech, Dublin, Ireland
AID:Tech brings social and financial inclusion to the world’s undocumented and under-served populations using digital identity based on Blockchain technology.
• Peer Choice Award – Pole Star, London, England
Pole Star provides sanctions compliance and risk management software to banks, trading companies, marine insurers and other organizations.
• Audience Choice Award – Paycode, Johannesburg, South Africa
Paycode’s solution enables financial inclusion with secure biometric identification, verification, and authentication with a rural footprint for online and offline real-time transacting.
At the event, 18 companies joined a total of 103 teams presenting their solutions at one of the six Demo Days across the globe. In addition to Dublin, T4I is hosting Demo Days in Abu Dhabi, Buenos Aires, Hyderabad, Mexico City and Singapore. In addition to the three awards presented at each Demo Day, Citi’s allies will announce additional awards in the coming weeks.
“Citi congratulates the award recipients and all of the finalists who presented an incredible range of innovative ideas in Dublin,” said Zdenek Turek, Citibank Europe CEO. “We are proud to sponsor this exciting challenge and to showcase a remarkable group of talented developers and their solutions.”
T4I is structured as a global open innovation competition, where companies of any type or size submitted technology solutions. Developers submitted ideas to address a number of “pain points” that Citi identified before launching the challenge in February. Most of the submissions focused on these key areas, including beneficiary eligibility; tax administration, including collection and taxpayer identity; transparency in the procurement process; allocation of public funds; and tools to increase transparency and fight corruption.
“The Citi Tech for Integrity Challenge has successfully crowdsourced game-changing solutions to help public and private sector entities tackle global integrity challenges,” said Jay Collins, Vice Chairman of Corporate and Investment Banking at Citi. “The solutions showcased in Dublin highlight how frontier technologies can be applied and implemented to drive integrity.”
Due to the open nature of the competition, award recipients from the Demo Days will have the opportunity to work with any business, organization or government interested in exploring innovative integrity tools.
The T4I initiative, led by Citi in collaboration with public and private sector allies, provides public and private sector entities with access to tech innovators and their ideas on how to increase transparency and efficiency.
Citi’s T4I allies include countries and other public and private sector entities looking to bring outside innovation inside their organizations. T4I strategic allies include Clifford Chance, Facebook, IBM, Let’s Talk Payments, Mastercard, Microsoft and PwC.
Citi teams from across the company and around the world contributed to T4I, including Citi FinTech, Citi Treasury and Trade Solutions, the Public Sector Group and Citi Ventures.