SpyderLynk was named a winner in Citibank’s Citi Mobile Challenge 2014 as the “Most Innovative Solution for Small Business” for its concept “CitiWallet for Small Business”.
In addition to winning a cash prize of $20,000, SpyderLynk has the opportunity to work with Citi for a chance to offer its SnapPay™ mobile wallet solution to Citi’s clients.
The Citi® Mobile Challenge 2014, a global initiative that invited technology developers to reimagine digital banking and fuel innovation in the industry, received participation from more than 3,000 developers across 740 teams from 62 countries in North America, Latin America, Europe, the Middle East, Africa and Asia.
In the U.S. challenge, more than 60 teams presented concepts to Citi executives and technology influencers at three Demo Days held in November in Silicon Valley, New York and Miami. Their entries were evaluated on their impact, viability, user experience and functionality by a group of Citi executives and technology influencers with the potential to bring winning solutions to market.
SpyderLynk’s entry "CitiWallet for Small Business" delivers an easy-to-adopt payment solution for small businesses using SnapPay, which allows consumers to simply scan a SnapTag, enter the amount to pay the merchant and hit go. It’s that simple.
"We are delighted to be recognized for our SnapTag technology and platform offering a mobile wallet and a complete suite of marketing tools to engage with consumers via the mobile channel," said Nicole Skogg, SpyderLynk Founder and CEO. "It is gratifying to have our vision further validated by Citi and we are looking forward to working with them and potentially offering our innovative mobile SnapPay to their clients."
"The Citi Mobile Challenge U.S. was an extremely competitive initiative," said Jorge Ruiz, Digital Acceleration Global Program Head. "We received hundreds of innovative submissions from all over the world and choosing the best of these was no easy task. Citi is pleased to congratulate our award recipients and we are excited to work with them for a chance to take their solutions to market for Citi clients all over the world."