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Eight fintechs have been shortlisted from 200 entries in Citi India’s first-ever FinTech Challenge focused on corporate solutions.
The scene now moves to the next stage where two to three fintechs from those shortlisted will be selected in the coming days to create proof of concepts, a top visiting Citi official said.
“We are looking at these fintechs to not just help them solve problems in India, but also (to see) if we could help them to go global with us.
“The effort is to see whether we can take what they do and add to our global platform and help solve the problems of our customers in other emerging markets and also in developed markets,” Manish Kohli, Citi’s Global Head, Payments and Receivables, told BusinessLine .
Kohli, who is visiting India for Citi India’s Fintech Challenge, was part of a panel of Citi representatives from India, Hong Kong and the US that evaluated the demos from the eight shortlisted fintechs.
The eight fintechs that pitched disruptive Corporate Solutions at Citi FinTech Day on Thursday are: Tungsten Network, Ezetap, KrypC, Active Intelligence, GIEOM, Karza Technologies, Paymate and Nearby Technologies. Their solutions were focused on payments, collections, identity verification, artificial intelligence and blockchain, among others.
Besides looking to collaborate with the final winners of the Citi India FinTech Challenge, Citi may also invest in one or two of them.
“Holding Citi FinTech Day in India allows us to harness the capabilities of the country’s start-up community and helps us execute our commitment to be the best for our clients,” said Manish.
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