Three clear winners clinch Citi integrity challenge » Banking Technology

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Citi Ireland CEO Zdenek Turek at the event

Citi has revealed the three winners from its Tech for Integrity Challenge (T4I) Demo Day in Dublin – all part of its plan to promote integrity, accountability and transparency in the public sector and beyond.

Fintech developers from eight countries presented their working prototypes; and the “award recipients” from the Demo Day included:

  • T4I Award – AID:Tech, Dublin, Ireland – offers social and financial inclusion using digital identity based on blockchain;
  • Peer Choice Award – Pole Star, London, UK – provides sanctions compliance and risk management software to banks and trading companies;
  • Audience Choice Award – Paycode, Johannesburg, South Africa – financial inclusion via biometric 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. As well as 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 partners will announce additional awards in the coming weeks.

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 areas such as 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.

Citi says the winners from the Demo Days will “have the opportunity to work with any business, organisation or government” interested in exploring integrity tools.

Citi’s T4I partners include Facebook, IBM, Mastercard, Microsoft and PwC.