Citi today launched the Citi Mobile Challenge, which the bank called a global initiative aimed at inspiring technology developers to reimagine mobile banking and payments and to stimulate digital progress in the industry.

Citi will provide developers with a suite of tools they can use to build products to benefit consumers either through mobile applications or the Internet of Things, according to a press release. Selected participants will present their concepts at demonstration events in Miami, New York City and Silicon Valley, and finalists will have the chance to take their technologies into production with the support of Citi.

"Citi has long been a leader in innovating the client experience through technology, from pioneering the ATM to introducing the first mobile banking app. We want to drive the next innovations that improve consumers' lives, and we created the Citi Mobile Challenge with that in mind," said Heather Cox, chief client experience, digital and marketing officer for global consumer banking at Citi. "We are excited to discover what these developers will bring and we are challenging them to be bold and break new ground."

Citi has teamed up with a number of leading technology firms, including Intuit, Plug and Play, and Wearable World, to connect with the developer community, according to the press release.

"Intuit is deeply committed to delivering fantastic experiences for our customers through innovation," said Avi Golan, vice president and general manager, Intuit Partner Platform. "The Citi Mobile Challenge is a great way to get our Customer Account Data API in the hands of some of the most passionate and innovative developers out there as they look to create new mobile experiences."

Individual developers, teams and companies from around the world will have an opportunity to register for the challenge until Oct. 3, according to the announcement. Citi will notify accepted participants on Oct. 10. Following that, over the course of nine days in October, Citi will make available a variety of APIs from across its businesses to help developers create real-world innovations. The APIs power some of Citi's latest digital offerings such as Citi Mobile and Citi WalletSM and will give developers an opportunity to create apps and other innovations that could function with existing Citi technology. Visit www.citimobilechallenge.com for more information on which APIs will be available. No customer data will be shared. Citi will also encourage developers to use APIs outside of Citi to support and add additional features to their innovations.

A panel of entrepreneurs, investors and leaders in technology and banking will review submitted innovations and will select finalists, who will present at the demonstration events in Silicon Valley on Nov. 10, New York City on Nov. 12, and Miami on Nov. 14. Selected developers will have the opportunity to consult with technology mentors, share in a cash award and connect with Citi's partners with a chance to take their products to real-world clients, according to the press release. 

The Citi Mobile Challenge in the U.S. follows a program by Citi in Latin America earlier this year. Citi Mobile Challenge LatAm brought together nearly 500 developers from around the world to present consumer and B2B projects in Buenos Aires, Argentina, and Bogota, Colombia. Citi is currently evaluating several pilots from winning products presented at Citi Mobile Challenge LatAm including:

• "Citi Shopping" - a personalized e-commerce app that allows users to buy from U.S. retailers, pay in local currency, and have their goods shipped to their home country, by PideloRapido
• "PAQ" - by POS MOVIL Group, a full-cycle mobile commerce platform that offers an inclusive B2B feature
• "SACapp" - a mobile solution for customer service that interacts with call center agents to improve customer experience and response times

For more information about Citi Mobile Challenge, and on which APIs will be available, visit www.citimobilechallenge.com for more information. And follow along on social with hashtag #CitiMobileChallenge.