Citi HK FinTech Challenge attracts nearly 200 applications

Citi HK FinTech Challenge attracts nearly 200 applicationsThe Citi HK FinTech Challenge has shortlisted 16 teams to present at the Hong Kong Demo Day on June 22.

The challenge attracted close to 200 submissions from across 14 markets and a range of sectors, including startups, FinTech companies and students.

Entries cover solutions designed for every area of banking and FinTech, including cybersecurity, compliance, blockchain, authentication, AI, cards and payment, digital identity, wealth management and insurance.

Finalists will undergo a mentorship program allowing them to learn from senior executives from Citi and its business partners, and will compete for a chance to take their ideas into productions and share in the HK$650,000 prize pool.

The challenge launched in March as part of the Hong Kong Monetary Authority x Cyberport Haccelerator initiative.

“The overwhelming response and participation from the eager developer community is phenomenal and encouraging, as Hong Kong is solidifying our FinTech footprint in the region,” Citibank country business manager for global consumer banking Angel Ng said.

“I am particularly thrilled to see submissions from 14 markets. I look forward to the Demo Day on June 22 where these solutions will be showcased live and help bring the winning technology to the market and our clients.”