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City invites entries to MENA Fintech challenge

DUBAI, UAE: Citi announced on Thursday the launch of the Citi Middle East and North Africa (MENA) Fintech Challenge for the  Fintech Community.

The Citi MENA Fintech Challenge offers the region’s  (Middle East, North Africa, Pakistan and Turkey) Fintech communities the opportunity to put their ideas into practice and come up with innovative solutions around four identified problem statements ie digitising cash collections, assured payments, B2B2C enablement and digitising trade processes.

“We are calling Fintechs with relevant innovative solutions, ranging from existing enterprises to early stage start-ups, to participate in this challenge. The launch of this challenge is an important milestone in our quest to uncover innovative solutions for our clients,” MENAPT Citi Treasury and Trade Solutions Head Emre Karter said.

“By offering the Fintech community the opportunity to showcase their ideas, we hope to contribute to the development and growth of Fintech companies in the region.”

Shortlisted Fintechs will get the opportunity to work with Citi Treasury and Trade Solutions on these challenges and showcase their designed solutions to executive sponsors at the Citi MENA Fintech Challenge Day on September 9, 2019. Finalists will also be invited on September 10 to Global Finance’s Digital Bank and Innovator conference in Dubai, UAE. Finalists will be awarded an opportunity to work with Citi in developing a market-ready solution by March 2020.

About Citi
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.