Clifford Chance ally with Citi on Tech for Integrity Challenge (T4I)
Landmark effort to encourage technology innovators from around the world to create cutting-edge solutions
27 April 2017
Clifford Chance has allied with Citi on Citi's Tech for Integrity Challenge (T4I), a landmark effort to encourage technology innovators from around the world to create cutting-edge solutions to promote integrity, accountability and transparency in the public sector and beyond.
The initiative, led by Citi in collaboration with public and private sector allies, will provide public sector entities with access to tech innovators and their ideas on how to increase transparency and efficiency. T4I will also provide the support and infrastructure that tech innovators need to tailor new technology solutions for this market.
T4I is structured as a global open innovation competition, where companies of any type or size can submit technology solutions. The challenge will seek to source innovation in a number of areas, including government transactions and procurement; culture, ethics and citizen engagement; cutting red tape; and information security and identity.
Selected participants will enroll in a virtual accelerator program, which will provide mentoring, curriculum and infrastructure support to help them enhance their submissions. Finalists will showcase their solutions at one of six Demo Days in cities around the world, including Buenos Aires, Dublin, Hyderabad, Mexico City and Singapore in May and June. Due to the open nature of the competition, award recipients from the Demo Days will have the opportunity to work with any business, organization or government interested in exploring innovative integrity tools.
Citi's T4I allies include countries and other public and private sector entities looking to bring outside innovation inside their organizations. T4I strategic allies include Clifford Chance, Facebook, IBM, Let's Talk Payments, Mastercard, Microsoft and PwC.
"We are proud to launch the Citi Tech for Integrity Challenge," said Julie Monaco, Global Head of the Public Sector Group in Citi's Corporate and Investment Banking division. "By supporting open innovation and providing innovators with the tools they need to develop ideas, we hope to help solve some of the biggest challenges that the public sector faces."
"Clifford Chance is delighted to be part of T4I with Citi and its partners. We have always looked at Banks and other financial institutions as some of the world's leading "tech companies", albeit ones that operate in a heavily regulated sector. The industry is now being challenged by new technology, which has the ability to change everything for everyone – including for the better. Helping participants in the sector protect the integrity of the financial services infrastructure has, for decades, been one of our key roles as a firm and we embrace this new initiative as one that builds on that long history." said André Duminy (Partner), Clifford Chance.
The application process for companies to submit ideas is now live. T4I will accept applications until March 6, 2017. The accelerator program will run from March to April, when finalists will be selected to participate in Demo Days.
For more details on the Citi Tech for Integrity Challenge, please refer to the T4I website: www.techforintegritychallenge.com.