Digital Acceleration Program Fuels FinTech Innovation through Global Competition through AP
September 15, 2015
BANGALORE–Citi today announced that SayPay Technologies has been accepted as part of the Citi Mobile Challenge in Asia Pacific, part of Citi’s drive to foster digital and mobile innovation in banking.
Citi Mobile Challenge is a next-generation accelerator that combines a virtual hackathon with an incubator, a worldwide network of FinTech experts and Citi’s unparalleled global sponsors and clients to discover solutions across more than 100 markets. Developers from Asia Pacific and around the world are invited to build innovative solutions that are capable of running on Citi’s digital platform globally.
Selected participants will demonstrate their concepts at events in Bangalore, Hong Kong, Singapore, and Sydney.
“Citi’s acceptance of SayPay into the competition demonstrates the need for improved security and customer convenience for financial services,” said Ramsyam Missula, CTO and co-founder of SayPay. “SayPay’s patent-pending technology provides ultimate security using voice biometric authentication and customer convenient for conducting banking using voice commands. We believe our combination of voice products will set the standard for future voice solutions.”
“Through Citi’s Digital Acceleration program we have been unleashing the power of the tech community, developing new solutions and challenging ourselves on how we reimagine banking,” said Heather Cox, Chief Client Experience, Digital and Marketing Officer for Global Consumer Banking at Citi. “Citi Mobile Challenge has helped us connect with top developers across the world, and we are excited to bring this opportunity to Asia Pacific.”
Citi is making a variety of APIs from the bank and other leading financial and technology companies to help developers create real-world innovations that could function with existing Citi technology. SayPay will be integrating their “crypto-token” voice biometric solution and speech-recognition voice banking solutions. A panel of industry experts and financial technology leaders will evaluate the solutions at each event. Finalists compete for an opportunity to take their technologies into production with Citi’s support, a share of US$100,000 in cash awards, and a suite of services from Citi Mobile Challenge sponsors, including the opportunity to participate in accelerator programs and receive mentoring, office space and investment.
Citi Mobile Challenge in Asia Pacific follows successful launches in EMEA earlier this year and in Latin America and the U.S. in 2014. Across the three programs, Citi received nearly 2,000 submissions from more than 100 countries and hosted events in Buenos Aires, Bogotá, Silicon Valley, New York, Miami, Nairobi, Jerusalem, Warsaw and London. Citi is currently working with several top innovations from previous Challenges to launch pilot solutions for consumer and business clients in various markets.
For more information about Citi Mobile Challenge, visit www.citimobilechallenge.com and follow along on social media: #CitiMobileChallenge.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
SayPay Technologies, Inc., provides advanced online and mobile payment solutions. By simply speaking a unique, one-time use SayPay token into their mobile phones, customers instantly make payments, complete online purchases or sign-in with just their voices. SayPay uniquely uses not only “how” a user speaks but also “what” they speak to provide true business value. SayPay’s patent-pending solution offers customers a fast, convenient and efficient experience while reducing fraud. For more information, visit www.saypaytechnologies.com.