With SPREO technology live in several malls, hospitals and office buildings around the world, we approached the Citi Mobile Challenge U.S. 2014 as an opportunity to demonstrate our technology and its many valuable benefits and use cases in the ‘FinTech’ (Finance technology) sector.
Our submission was CILE, Customer Identification and Local Engagement, a BLE-based SDK location platform that provides bank staff and visitors with account information and contextual information to enrich the banking experience and increase efficiencies.
Each teller, equipped with a license and integration of the CILE SDK on their corporate mobile device, tablet or computer, would receive location-based notifications and customer information in real-time. This mobile solution empowers local bank tellers to offer the best customer service in the world and provides several competitive advantages. In our mind, the solution is relevant to banking, casinos, hotels, clubs… any venue that has customers and benefits from a customer-centric and personalized concierge app.
A panel of entrepreneurs, investors and leaders in technology and banking reviewed our submission and selected SPREO as a finalist. There were three demonstration events: Silicon Valley on Nov. 10, New York on Nov. 12, and Miami on Nov. 14. SPREO presented at the New York City demo at a venue just minutes from our lower midtown headquarters.
Jorge Ruiz, Business Development and Digital Banking Head for Citi Latin America, spearheaded the Citi Mobile Challenges, and remarked, “The competitors have infused our organization with innovative ideas in both the Consumer and Corporate Banking areas, which will be at the forefront of mobile banking innovation. Their contributions have the potential to impact millions around the world, and we look forward to continue working with each of them over the coming months.”
Jorge Rubio, Inclusive Finance & Microfinance Head for Citi Latin America added, “Digital technologies and mobile channels have enormous potential to expand financial inclusion across markets. We couldn’t be happier with the results because many of the solutions presented can help us better serve our institutional clients as they expand the outreach in their supply and distribution chains, while at the same time contributing to the development of more inclusive financial systems.”
SPREO is proud to be awarded as a finalist in the competition, after hundreds of submissions were reviewed, and we want to thank Jorge and everyone at Citibank for the great opportunity and experience.
Citi is offering a total of $100,000 in prizes, with $50,000 being awarded to the most Innovative Mobile Solution and $50,000 given to the best Internet of Things/Wearable idea. The finalists that are selected will also be invited to conduct a commercial relationship with the bank and may even be able to implement their concepts into Citi’s partner accelerator programs.