Abu Dhabi Global Market and Citi Choose Abu Dhabi to Host 2017 Global Citi® Tech for Integrity Challenge in the MEA Region

ADGM FSRA 28/02/2017

Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, is pleased to partner with Citi for the Citi® Tech for Integrity Challenge (T4I) to take place in Abu Dhabi, the capital of the United Arab Emirates.  Abu Dhabi is one of six chosen cities, including Buenos Aires, Dublin, Hyderabad, Mexico City and Singapore, to hold a Demo Day for this world-class FinTech challenge.  T4I finalists will showcase their solutions in one of these six Demo-Day hubs around the world.  The Abu Dhabi Demo Day will be held in ADGM on May 15, 2017.

T4I is a global initiative and collaboration to inspire the development of innovative tech solutions that promote integrity and support anti-corruption initiatives led by public sector clients and partners. The event draws in pools of international technology innovators and provides a one-of-a-kind, world class, virtual accelerator programme to develop innovative solutions that promote transparency and integrity.  Finalists will present before a panel of senior Citi and ally stakeholders at the regional Demo Days.

Richard Teng, Chief Executive Officer of the Financial Regulatory Services Authority, ADGM, said, “ADGM is pleased to partner Citi in bringing T4I to Abu Dhabi and hosting this global event at ADGM’s premise on Al Maryah Island.  The principle and objective of this initiative resonates well with Abu Dhabi’s long-term commitment and ADGM’s strategic plan in developing an open, inclusive and sustainable FinTech platform and ecosystem that supports the needs of local and global business and financial communities.

T4I is an open innovation challenge to crowdsource and harness cutting-edge technological solutions that promote integrity, accountability and transparency in the public and private sector. We invite local and global tech innovators to Abu Dhabi to showcase their solutions and take advantage of the conducive FinTech environment that both Abu Dhabi and ADGM provide for the community.”

"We are very appreciative of ADGM's support for the Tech for Integrity Challenge and its commitment to leveraging the power of FinTech and Open Innovation to help local businesses and markets reach a global scale," said Laura Gaviria Halaby, Global Head of FinTech Acceleration at Citi. "We look forward to seeing how FinTech can contribute to solve one of the world's greatest challenges by bringing efficiency and accountability to the public sector and beyond.”

Start-ups and mature technology corporates alike that are interested in applying for the T4I Challenge can register with T4I via this link by March 12.  Details on registration for the Demo Day will be announced in due course.

ADGM’s support of T4I is one of the series of initiatives under the umbrella of ADGM’s FinTech Abu Dhabi event 2017.  ADGM first announced its vision to be the FinTech hub in the MENA region in March 2016.  In November 2016, ADGM launched the first Regulatory Laboratory (“RegLab”) in the MENA region to offer a controlled environment for FinTech players to develop and test their innovative solutions without being subject to the full burden of regulatory requirements.  These solutions will serve to further the development of the financial services sector in Abu Dhabi and the UAE.  As part of its commitment, ADGM will also provide appropriate regulatory support and guidance to help FinTech participants understand and apply the relevant regulatory requirements as they scale their businesses.