More News
BANKING TECHNOLOGY | Staff Reporter, Singapore
view(s)

Citi launches global competition for tech innovators to create solutions for the public sector

Interested companies can submit applications until March 6.

Citi announced the Citi Tech for Integrity Challenge (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 initiative, led by Citi in collaboration with public and private sector allies, will provide public sector entities with access to tech innovators and their ideas on how to increase transparency and efficiency. T4I will also provide the support and infrastructure that tech innovators need to tailor new technology solutions for this market.

T4I is structured as a global open innovation competition, where companies of any type or size can submit technology solutions. The challenge will seek to source innovation in a number of areas, including government transactions and procurement; culture, ethics and citizen engagement; cutting red tape; and information security and identity.

Selected participants will enroll in a virtual accelerator program, which will provide mentoring, curriculum and infrastructure support to help them enhance their submissions. Finalists will showcase their solutions at one of six Demo Days in cities around the world, including Buenos Aires, Dublin, Hyderabad, Mexico City and Singapore in May and June. 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.

In addition, Citi released the results of a two-month crowdsourcing survey of more than 150 individuals, spanning public, private and non-governmental organizations around the world, to identify Integrity Pain Points on which developers should focus their efforts. The top issues raised in the survey included 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’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.

“We are proud to launch the Citi Tech for Integrity Challenge,” said Julie Monaco, Global Head of the Public Sector Group in Citi’s Corporate and Investment Banking division. “By supporting open innovation and providing innovators with the tools they need to develop ideas, we hope to help solve some of the biggest challenges that the public sector faces.”

With the announcement, Citi officially opened the application process for companies to submit ideas. T4I will accept applications until March 6, 2017. The accelerator program will run from March to April, when finalists will be selected to participate in Demo Days.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.