{"id":17482,"date":"2019-10-30T16:38:01","date_gmt":"2019-10-30T12:38:01","guid":{"rendered":"https:\/\/www.middleeastevents.com\/blog\/?p=17482"},"modified":"2019-10-30T16:38:01","modified_gmt":"2019-10-30T12:38:01","slug":"citi-announces-the-winners-of-the-citi-mena-fintech-challenge","status":"publish","type":"post","link":"https:\/\/www.middleeastevents.com\/blog\/citi-announces-the-winners-of-the-citi-mena-fintech-challenge\/","title":{"rendered":"Citi Announces The Winners Of The Citi Mena Fintech Challenge"},"content":{"rendered":"
\n

\u00a0Citi\u00a0today announced the winners of the MENA Fintech Challenge: \u00a0Fawry, PaySky, Octet and Wipro Limited and Traydstream.The\u00a0Citi\u00a0MENA Fintech Challenge\u00a0<\/em>offered the region\u2019s Fintech community the opportunity to put their ideas into practice and come up with innovative solutions around four\u00a0identified problem statements:\u00a0Digitizing Cash Collections; Assured Payments; B2B2C Enablement; Digitizing Trade Processes.<\/p>\n

\u201cThis challenge was an important milestone for\u00a0Citi. We were very impressed with the quality of the applications and proposed solutions around the problem statements. It gives me great pleasure to see the innovation and fast paced development in the Fintech space in the MENA countries and how their ecosystems evolve to further support them,\u201d said Emre Karter, Treasury and Trade Solutions Head, MENAPT,\u00a0Citi. \u201cBy offering the FinTech community the opportunity to showcase their ideas, we hope to contribute to the development\u00a0and growth of FinTech companies in the region.\u2019\u2019<\/em><\/p>\n<\/div>\n

\n

The winners in each category include:<\/p>\n

    \n
  • Digitizing Cash Collections<\/em>\u00a0: Fawry\u00a0<\/strong>is the leading Fintech platform based in Egypt, offering financial services to consumers and businesses in the MENA region, used by 25 million consumers, processing more than 2.5 Million transactions on a daily basis.<\/li>\n
  • Assured Payments<\/em>\u00a0: Octet<\/strong>\u00a0is a pioneering supply chain management and financing portal for both large corporations and small & medium enterprises (SMEs) based in Turkey. It aids SMEs and large corporations by shortening the cash cycle for sellers and lengthening for buyers.<\/strong><\/li>\n
  • B2B2C Enablement<\/em>\u00a0:\u00a0PaySky<\/strong>\u00a0is the next-generation electronic payments solutions provider, building the payments infrastructure enabling the new digital economy across Africa & the Middle East. With a Vision of “Democratizing e-payments”, PaySky empowers financial institutions, businesses and consumers remit, pay & get paid.<\/li>\n
  • Digitizing Trade Processes:\u00a0Wipro limited<\/strong>, a leading global information technology, consulting and business process services company and\u00a0Traydstream<\/strong>, a rapidly growing fintech with multi-cloud-enabled trade automation platform, based in London, have joined hands to enable a cloud-based trade finance automation platform. \u00a0Wipro and Traydstream\u2019s joint proposition enables a modular technology that digitizes and stores trade finance documentation, extracting the data intelligently. Based\u00a0on machine learnt experience, it also validates the transaction documentation against a vast, evolvable library of Trade Rules and Compliance<\/li>\n<\/ul>\n

    In the lead up to the MENA FinTech Day, Citi reached out to over 1000 FinTechs in the region, calling for solutions that could address one or more of the four identified problem statements. \u00a0An initial shortlist of 60 applicants were invited to pitch to Citi panelists in workshops held across the region in five cities: Dubai (UAE), Karachi (Pakistan), Cairo (Egypt), Amman (Jordan), and Istanbul (Turkey), before the final eight teams were chosen (two per problem statement). Each team was paired with a Citi mentor to fine-tune their pitch and solutions before the MENA FinTech Day. As part of MENA FinTech Day, each team presented a pitch and solution demo before a Citi judging panel. Citi will work with the four winners on a proof of concept and use cases.<\/p>\n<\/div>\n

    \n

    Citi\u2019s Treasury and Trade Solutions (TTS) enables our clients’ success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the industry’s largest proprietary network with banking licenses in over 98 countries and globally integrated technology platforms, TTS continues to lead the way in offering the industry’s most comprehensive range of digitally enabled treasury, trade and liquidity management solutions.<\/p>\n

    \"\"<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    \u00a0Citi\u00a0today announced the winners of the MENA Fintech Challenge: \u00a0Fawry, PaySky, Octet and Wipro Limited and Traydstream.The\u00a0Citi\u00a0MENA Fintech Challenge\u00a0offered the region\u2019s Fintech community the opportunity to put their ideas into practice and come up with innovative solutions around four\u00a0identified problem statements:\u00a0Digitizing Cash Collections; Assured Payments; B2B2C Enablement; Digitizing Trade Processes. \u201cThis challenge was an important […]<\/p>\n","protected":false},"author":1,"featured_media":17483,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-17482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/17482","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/comments?post=17482"}],"version-history":[{"count":1,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/17482\/revisions"}],"predecessor-version":[{"id":17484,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/17482\/revisions\/17484"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/media\/17483"}],"wp:attachment":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/media?parent=17482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/categories?post=17482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/tags?post=17482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}