Global bank Citi has announced the Citi Tech for Integrity Challenge (T4I), which aims to encourage tech innovators from around the world to create cutting-edge solutions to promote integrity, accountability and transparency in the public sector and beyond.
The initiative, which is led by Citi in collaboration with public and private sector partners including Facebook, IBM, Mastercard, Microsoft and PwC, will provide public sector entities with access to tech innovations that increase transparency and efficiency.
T4I will also provide the support and infrastructure that tech innovators need to tailor new technology solutions for this market. The initiative is a global open innovation competition, with companies of any type or size able to submit solutions.
Selected participants will be enrolled in a virtual accelerator programme, offering mentoring, curriculum and infrastructure support. Finalists will then 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.
Award recipients from these Demo Days will be given the opportunity to work with any business, organisation or government interested in exploring their innovative integrity tools.
“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.”
Citi has officially opened the application process for companies to submit ideas. Applications are open until March 6, with the virtual accelerator running from March to April.
“IBM is excited to work with Citi, its allies and innovators around the world to leverage our technology and expertise,” said Mary Tafuri, director of the IBM Developer Technology & Advocacy.
“We look forward to helping the public sector use cognitive, cloud and blockchain technologies to drive innovation and increase efficiencies and transparency that will benefit citizens everywhere.”