May 12, 2017
Announced in February 2017, Citi Tech for Integrity (T4I) Challenge – a global initiative to source solutions to promote integrity, accountability, and transparency in the public sector – brought together 80+ allies and contributors including governments, regulators, Fortune 500 Tech companies, international NGOs, and local allies.
The T4I Strategic Allies include PwC, IBM, Mastercard, Let’s Talk Payments, Microsoft, Facebook and Clifford Chance. The T4I Government Sector Allies include Abu Dhabi Global Market (ADGM), the Indian government’s Ministry of Electronics and Information Technology, Monetary Authority of Singapore (MAS), Mexico Digital, and the Government of Argentina.
Approaching the culmination of the challenge, Citi is proud to unveil 103 finalist solutions in EMEA, APAC and LATAM regions that will present at the Demo Days and showcase their integrity solutions to Citi executives, ally executives, government entities and special guests in six locations around the world:
US companies represent the largest portion of finalist solutions among nations that sent their best talent for the global quest: out of 103 finalist solutions, ~23% come from the United States, followed by ~17% from India, and ~14% from the UK. The EMEA region, however, leads in the overall number of finalists presenting in the EMEA Demo Day locations (34%), followed by APAC, NAM, and LATAM.
The finalists were chosen from 213 teams that earlier had been selected for the Growth Accelerator Class from >1K challenge submissions since T4I’s launch in February 2017. The Growth Accelerator Class pool represented 30+ countries and 80+ cities across four regions (North America, Latin America, Europe Middle East & Africa, Asia-Pacific).
Not quite surprisingly, a large number of companies are focusing on a pillar of government transactions. With payments being one of the hottest segments of FinTech for some time now, a particular type of a payment service has been generating significant attention recently – person-to-government (P2G). Global P2G payment flows are estimated to be at $7.7 trillion and represent a significant feature of the global payments landscape.
Among the 103 T4I finalist solutions, 24% of companies are addressing government transactions pillar, followed by another hot area of technology application – Analytics, Reporting, and Transparency (25% of finalist solutions).
Interestingly, the Information, Security, and Identity pillar is addressed in 17% of cases, signifying an increasing attention to the role and connection between identity and security in an increasingly complex international ecosystem.
Promoting integrity, Citi offers awards to top innovators plus the opportunity to explore commercial relationships with Citi and allies. Citi will grant the following awards to top innovators:
Source: Citi T4I Challenge
|Global Ally Awards||Citi Global Awards||Region-Specific Ally Awards|
|Mastercard||1+ finalist will receive $50k to support a pilot(s).|
|Clifford Chance||Up to 6 finalists will receive up to 8 hours of legal support from Clifford Chance LLP.|
|Abu Dhabi Global Market (ADGM)||2+ finalists will be showcased at the inaugural Abu Dhabi FinTech Summit in October 2017 (priority given to Abu Dhabi finalists).|
|W3||1+ finalist will receive up to 30 hours of free UX design mentorship.|
|Let’s Talk Payments (LTP)||1+ finalist will have access to MEDICI Live!, including mentorship and $250k in pre-committed investor $’s|
|ATECH* Conference||1+ Latam finalist will be showcased at the October 2017 ATECH* conference.|
|Wipro||3+ finalists will receive consulting, GTM support and access to Wipro's coworking space for 6 months.|
|GQC||Up to 24 people will be given free co-working space during the Accelerator program and for up to 60 days after Demo-Day.|
|IAMAI||IAMAI Mobile10X will award 1+ finalist from India one year of free access to IAMAI incubators in Bengaluru and Hyderabad.|
|Transparencia Mexicana||Up to 2 finalists will be invited to be part of Transparencia Mexicana's team to contribute and have a two-way learning process in the creation of their solutions.|
There is more!
Not only are Citi and its allies offering the above-mentioned invaluable benefits to the finalists, but also all participants will be granted certain perks upon entry to the Challenge. Citi T4I Challenge participants will receive: