Citi announces awards for T4I Challenge Day in Abu Dhabi
Citi announced the three award recipients from Citi’s Tech for Integrity Challenge (T4I) Demo Day in Abu Dhabi, held on May 15 at Abu Dhabi Global Market (ADGM) Authorities Building. The event brought together FinTech developers from 10 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 - PalPay Audience Choice Award - Nultan Nigeria Limited Peer Choice Award - 360ofme At the event, 16 companies joined a total of 103 teams presenting their solutions at one of the six Demo Days across the globe. In addition to Abu Dhabi, T4I is hosting Demo Days in Buenos Aires, Dublin, 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 Abu Dhabi,” Elissar Farah Antonios, CEO-Citi UAE. “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 “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 created a unique platform for tech developers to quickly and efficiently create and provide innovative ideas to help public and private sector entities solve some of their biggest challenges,” said Julie Monaco, Global Head of the Public Sector Group in Citi’s Corporate and Investment Banking division. “The solutions showcased in Abu Dhabi highlight the amazing ideas that we can create through collaboration and open innovation.”
“ADGM is pleased to be the first city to host the Citi T4I Challenge and our heartiest congratulations to the award recipients. All the FinTech finalists have been phenomenal in developing such transformational solutions and we are positive they will inspire further innovations and contribute to socio-economic developments globally. As an IFC and FinTech Hub, we are committed to assess and introduce the appropriate regulatory solutions and framework to support the aspirations and business needs of the industry. We will continue to bring together strategic stakeholders and industry providers to foster even more innovation, entrepreneurship and growth in Abu Dhabi and the region”, said Richard Teng, Chief Executive Officer, Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM).
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.