Citi Mobile Challenge brings out the fintechs
Seventeen fintech start-ups strutted their stuff at the Citi Mobile Challenge Demo Day in Sydney yesterday, hoping to interest a panel of judges in everything from collaborative work platforms to intuitive investment apps.Citi has run CMCs before but this is the first one convened in Asia. Events are running at the same time in Singapore, Hong Kong, Bengaluru and Sydney.Four winners will share a $100,000 prize and have the opportunity to work with Citi on the development of their projects.Citi managing director of global digital acceleration and global head of mobile channel, Jorge Ruiz, was in Sydney for the event. He said the bank did not have any agenda or wishlist when it whittled down the 1900 registrations."We prefer to go broad. New things come through when you are open," Ruiz said.Citi managing director and global head of digital marketing, social and social content, Linda Duncombe, said a lot of the focus of fintech developers in recent years has been on payments but there was a strong investment theme at the Sydney event."The new thing is making wealth simpler," Duncombe said.The winners will be announced later in the year.