Citi is inviting software developers in the Asia Pacific (APAC) region to participate in its digital acceleration programme, the Citi Mobile Challenge.
Software developers could register for the programme, which combines the concepts of a virtual hackathon with an incubator, from 19 August 2015.
They will be given API toolkits from Citi and other financial and technology companies to develop applications and solutions that could function with the bank's existing technology.
Selected participants will demonstrate their concepts to a panel of industry experts and financial technology leaders at events in Bangalore, Hong Kong, Singapore and Sydney. Finalists will then compete for an opportunity to take their technologies into production with Citi's support, a share of the US$100,000 in cash awards, and a suite of services from the event sponsors. The winner will also be given a chance to participate in the bank's accelerator programmes and receive mentoring, office space and investment.
"APAC is home to a fast growing FinTech community, and this initiative will help accelerate and uncover new and exciting opportunities for Citi to develop transformational approaches to banking," said Francisco Aristeguieta, Citi's APAC CEO.
The Citi Mobile Challenge in APAC follows successful launches in Europe, Middle East and Africa earlier this year, and in Latin America and the U.S. in 2014. Jorge Ruiz, Digital Acceleration Global Program Head, Citi, said that the programme helps to "deepen the bank's engagement with software developers and connect directly with new innovation hubs to integrate new solutions into its digital business in markets all over the world."