Afiniation, a virtual network created to support the development and growth of financial technology (FinTech) in Asia Pacific, has become a sponsor of the Citi Mobile Challenge in Asia Pacific.
Citi Mobile Challenge is billed as “a next-generation accelerator that combines a virtual hackathon with a developer program, a worldwide network of FinTech experts, and the bank’s global reach to discover and incubate solutions from across more than 100 markets.” Afiniation joins a number of major organisations including including Google, FinTech accelerator Stone & Chalk, venture capital firm BlueChilli, The Committee for Sydney and the University of Wollongong.
Afiniation operates an online portal that connects innovators, investors, partners, finance industry professionals and supporters. It holds regular Afiniation Spotlight events and the annual Afiniation Showcase event to cultivate opportunities for FinTech startups and established firms.
Afiniation says also that it gives FinTech a voice “by building an active membership base that provides the foundation for the FinTech community to champion causes” and acts as “an advocate for development of the social, economic and regulatory framework in which our members operate.”
In the Citi Mobile Challenge, developers are invited to build solutions that will be able to run on Citi’s digital platform globally. This gives them an opportunity to have their ideas put in place in markets all over the world.
Afiniation cofounder, Per Edwards, said the relationship with Citi would give Afiniation’s members greater exposure within Australia and in the wider Asian region. “We are helping Citi get more people to connect to the Citi Mobile Challenge and they will help us promote our event.” Also, Citi’s managing director of customer experience, Linda Duncombe, will be the keynote speaker at the Afiniation showcase.
Duncombe said: “We are absolutely delighted to have Afiniation, a champion of the Australasian FinTech Community, join the Citi Asia Pacific Global Mobile Challenge.There is a very strong synergy between the Citi Mobile Challenge and the upcoming Afiniation Showcase on the 24th of September.”
The Afiniation Showcase 2015 will debut in Sydney on Thursday 24th September, and will provide the opportunity for up to 30 of Afiniation’s Innovation participants to showcase their new financial and banking technologies across Australasia. The Showcase presenters will be selected by the Afiniation expert panel. Each company presenting will be given seven minutes to provide an overview and demonstration of their technology.
In the Citi Mobile Challenge, selected participants will demonstrate their concepts at events in Sydney, Hong Kong, Singapore and Bangalore. The Sydney event will run in November.
A panel of industry experts and financial technology leaders evaluate the solutions at each event. Finalists compete for an opportunity to take their technologies into production with Citi’s support, plus a share of $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.
For more details on the Afiniation Showcase to be held on Thursday 24 September at the Ivy Ballroom in Sydney and to purchase tickets to the event go to: afiniation.com/showcase-event/