Jointly organized by Citigroup Services and Technology (China) Limited (‘CSTC’), Xi'an Jiaotong-Liverpool University (XJTLU) and Shanghai Technology Entrepreneurship Foundation for Graduates (‘EFG’), the 19th Citi Financial Innovation Application Competition (‘Citi Cup’) recently was launched in Taicang. It was also the first time that Citi Cup partnered with a Chinese and foreign cooperative university. Seniors from various stakeholders, industry experts, as well as teachers and students from 34 universities participated in the launching ceremony offline and online.

As a benchmark event in the field of financial technology for Chinese universities, Citi Cup aims to guide college students to pay attention to the integration of knowledge, financial industry development and social progress; stimulate students' interest in science & technology and financial industry; encourage teamwork and use the knowledge learned to propose Fintech solutions to real problem of financial industry. Since first launch in 2005, the event has attracted more than 20,000 students and 2,000 university teachers to participate. Every year, tens of thousands of teachers and students follow the event through online and offline channels.

Luke Lu (below in the photo), Executive Vice President of Citibank (China) Co., Ltd., said: “Citi's mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. In the course of nearly two decades, Citi Cup keeps forging ahead with innovation, facilitates China's Fintech talent cultivation and continue to explore future development path. This is exactly how we live up to Citi's mission.”

First-class technological innovation requires first-class talents. Citi has always attached great importance to talent development, providing employees with a diverse, equal and inclusive career development platform internally, while leveraging the company's professional advantages to contribute to the local talent cultivation over the years. Important initiatives include cooperating with universities to organize Citi Cup, offering practical financial courses, providing internship opportunities, etc., to support financial education in all aspects.

Dane Xu, CSTC GM, said: “As Citi's world-class R&D and business process solution center, CSTC fully supports the cultivation of Fintech talents, and promotes innovation and entrepreneurship among Chinese college students.”

Professor Youmin Xi (below in the photo), Executive President of XJTLU, introduced the education model of XJTLU Entrepreneur College (Taicang) at the ceremony. "XJTLU Entrepreneur College (Taicang) responds to the development trend of future technologies such as AI, and cultivates highly inter- disciplinary innovative talents who can master the foundation of cutting-edge technologies and have the ability to control and lead future industries. Citi Cup is an important part of exploring the cultivation of such talents.”

The 19th Citi Cup registration is now open until January 2, 2024. Participants can visit the official website of XJTLU Learning Mall https://premium.learningmall.cn/page/citicup19 to register online.

On May 28 and 29, hosted by Citigroup Services and Technology (China) Limited ('CSTC'), organized by Shanghai Technology Entrepreneurship Foundation for Graduates ('EFG'), executed and supported by Fudan University, 16th Citi Financial Innovation Application Competition (‘Citi Cup’) 2020-2021 National Finals and Awards Ceremony came to an end at Fudan Science Park Building, with the 'Nudger-analyst-based portfolio recommendation system' project from the NJU Analyst team of Nanjing University named the winner of the special prize.

Citi continued its partnership with EFG for the 16th Citi Cup and, with the strong support of Fudan University, overcame various challenges posed by COVID-19. The competition successfully launched on August 14, 2020, with 1,172 students from 106 teams from 60 universities across the country signing up to participate (including 36 inter-school joint teams). Out of this cohort, 56 teams successfully submitted their complete works for the qualifiers.

Ms. Christine Lam, Citi China President and CEO, said: “In the past 16 years, through Citi Cup, Citi has built a platform for teachers and students who are interested in FinTech, and cultivated a large number of financial and IT interdisciplinary talents for China. We are very happy to witness their growth and success. The COVID-19 pandemic has promoted the further acceleration of global digital transformation, leading to the evolution of business models and user behaviors. We believe financial innovation will be even more widely applied in the future.”

Mr. Dai-Jun Guo, Executive Dean of the Development Research Institute of Fudan Science and Technology Park, said: “Citi Cup is an interdisciplinary competition for students in colleges and universities across the country, covering both financial innovation and the process of putting information technology into practice.”

Starting with the 16th Citi Cup, and in line with the competition’s council and partner universities’ advice, the competition cycle has been adjusted from the calendar year to the academic year to align with the academic schedule, thereby attracting more college teachers and students to participate.

Founded in 2005, Citi Cup is China’s first dedicated education project to encourage the cultivation of professionals in the field of financial information technology. It aims to guide students to explore the role of technology in promoting the development of the financial industry and social progress, and inspire students with a passion for FinTech, and develop their ability to apply FinTech. The purpose of the competition is "promote financial innovation through technology". It encourages college students in IT, finance, economics, management and other majors to participate by forming teams across schools and academic disciplines, combining the power of technological innovation with industrial developments and practical applications. Over the past 16 years, more than 17,800 students and more than 1,800 teachers from universities across the country have participated in the competition, and more than 550,000 teachers and students have observed and learned about the competition through various channels. Citi Cup has become a benchmark event in the field of China's financial information technology. It is the country's most influential financial information contest.

Over the past ten years, Citi Cup has given rise to a number of projects with decent market prospects, shedding light on a large number of excellent financial technology talents in the process. Certain members of the winning teams applied what they learned and turned their works into mature products, attracting support from venture capital and start-up funds, reflecting the industry and the market's recognition of the value of Citi Cup. Other outstanding students have also achieved their dreams of starting news businesses and self-employment through the valuable experience and network accumulated in Citi Cup.

The 16th Citi Financial Innovation Application Competition (‘Citi Cup’) recently kicked off in Shanghai. Citi once again partnered with Shanghai Technology Entrepreneurship Foundation for Graduates ('EFG') and Fudan University for this year’s competition, which focuses on encouraging students to create innovative solutions to fight the COVID-19 pandemic by using Citi's Application Programming Interface (API).

Entering its 16th year, Citi Cup has become a benchmark contest in the financial information technology industry. The competition aims to promote financial innovation with technology and encourages students across colleges and disciplines - from IT, finance, economics, management, to other related majors - to participate and deploy the power technological innovation through the lens of new industries and practical application. The purpose of the competition is to guide students in their early years of higher education to put social progress front and center in their thinking, alongside what they are learning about the financial industry. It also aims to stimulate students' interest in science and technology and the financial industry, and via teamwork, encourage the comprehensive application of the knowledge they have obtained, to foster brilliant financial innovation ideas and create solutions with commercial prospects. The competition has attracted more than 16,600 students and 1,700 college teachers to participate in its history.

Ms. Christine Lam, Citi China President and CEO, said: “So far in this extraodinary year, Citi China has rolled out a number of digitized services to support to our corporate and consumer clients' urgent financial needs. The pandemic will have a long-term impact on socio-economic life, while the global digital transformation is set to further accelerate. Through this competition, we hope to show the world the creative innovation China’s young FinTech talents are forging to fight the pandemic.”

Citi continues to break new grounds in digital innovation, continuously launching innovative products and services that adapt to evolving demand, and strives to make banking available anytime, anywhere, more convenient and more personalized. The Asset recognized Citi China with the ‘Best Financial Intelligence AI Project Award’ for its intelligent voice robots, while Citi Asia Pacific was named the ‘Best Digital Bank’ in the magazine’s 2020 awards. Since the outbreak, Citi has further accelerated the adoption of digital channels and functions, launching a new generation of mobile banking, promoted paperless foreign exchange payments and cash management, and strengthened support for diversified trade services and financial solutions for corporate customers. These measures have significantly improved the convenience of application and customer experience, and played an active role in promoting the resumption of work and production in the country, winning recognition and praise from many customers, and created customer-oriented growth for Citi.

Citi understands the need for top talents to foster technological innovation, which explains the emphasis it places on the cultivation of talents. For a long time, Citi has worked closely with major universities to support financial education through various means such as practical courses in finance and holding financial innovation application competitions. For more than 10 years, Citi Cup has built a platform for young talents who are interested in FinTech, and has cultivated a large number of excellent financial and IT interdisciplinary talents for China.

Mr. Arthur Chen, General Manager at CSTC, commented: “With the strong support of all parties, I am very happy that the annual Citi Cup launched on schedule. While the purpose of the competition remains unchanged, this year’s circumstances are unique. We hope that students will actively use various professional resources to try and come up with more customer-centric solutions with commercial prospects to fight the pandemic.”

Mr. Yisong Ni, Secretary of EFG, commented: “EFG has cooperated with Citi for more than 10 years, encouraging and supporting young college students to innovate in finance, with the public good at the heart of these efforts. EFG established a ‘fast track’ for the finalists to the ‘Entrepreneurship Bootcamp’, supporting them with funding and incubation initiatives such as the ‘Angel Fund’ and ‘Young Eagle Project’, backing these young people’s quest for entrepreneurship.”

Professor Jinlong Shu, a member of the National Financial Professional Degree Postgraduate Education Steering Committee & Director of Shanghai Academic Degrees Office, said: “I would like to thank Citi Cup’s host and organizers for continuing to hold it through a combination of online and offline activities, notwithstanding the unique circumstances brought by the pandemic this year. The Ministry of Education and city of Shanghai have held and supported certain competitions in the country. It is increasingly common to see finance, information technology and management together as a singular theme these days, with an emphasis on innovative applications. We have always encouraged universities at all levels, whether it be undergraduate or graduate, to improve students’ further understanding, learning and the application of professional knowledge through competitions, and to strive for the idea of 'learning through competition'.”

Professor Wenwu Liao, Director of the Research Center for Degree and Postgraduate Education of Fudan University, said: “We thank Citi for hosting Citi Cup for the sixteenth consecutive year in China. The innovation highlighted by the competition underscores that interdiciplinary talents are at the core of China’s current stage of innovative development. As practitioners of higher education, we should prioritize promoting integration across disciplines, between science and education, between business and education, and laying the ground (for further innovation). We thank Citi China and various universities across the country, including Fudan University, for their continuous cooperation in different disciplines over the years. I hope to see more representatives of university teams appear at the finals."

The 16th Citi Cup finals will be held in the first half of 2021. The top 20 teams will enter the finals to compete for the special prize, the first, second and third prizes. In addition, EFG will provide up to RMB 500,000 of entrepreneurial funding and professional entrepreneurial incubation services for outstanding projects with investment potential.

From November 29th to 30th, the Finals and Awards ceremony of 2019 15th Citi Financial Innovation Application Competition (“Citi Cup”) were successfully held in Shanghai which was hosted by Citigroup Services and Technology (China) Limited (“CSTC”) and organized by Shanghai Technology Entrepreneurship Foundation for Graduates (“EFG”). The project “Visualized marketing platform for estimating the valuation for original video channels” from the team “Praise the sun” of Shanghai Tech University won the first prize.

Launched in 2005, ‘Citi Cup’ was the 1st dedicated education project to encourage the cultivation of financial IT interdisciplinary talents. It aims to guide college students to explore and research the impact of technology on industrial development and social progress; inspires the passion of students on science and technology, on financial IT industry, encourages them to apply their knowledge into practice through teamwork, motivates their creative ideas on financial innovation. With the goal ‘Technology Drives Financial Innovation’, ‘Citi Cup’ encourages college students from IT, Finance, Economy, Management and other majors to team up cross-disciplinary and cross-school to combine technology innovations with industrial development and practices.

To date, over 16,600 college students and 1,700 teachers have participated in the competition, and the program has reached 550,000 people through multiple channels, including campus activities and the media. Citi Cup has become a benchmarking and nationally influential event in China's financial Informatization field.

As a new highlight of this year's competition, for the first time, ‘Citi Cup’ went out of the college campus and partnered with EFG to promote FinTech innovation, in terms of to leverage EFG's professional experience in entrepreneurship advocacy, entrepreneurship education, entrepreneurship funding, etc. to gather more social resources, attract governments, universities and entrepreneurs to participate in the event.

Mr. Ni Yisong, deputy secretary general of EFG, said: ‘The cooperation between EFG and Citi in the past decade stems from the common purpose and sentiments that both parties uphold. In order to encourage and support young college students to carry out innovation and entrepreneurship in the financial field, EFG has set up a green channel for the finalists of 'Citi Cup' to participate in the 'Entrepreneurship Training Camp' and provided public welfare funding and incubation services to entrepreneurial projects that meet the funding criteria of the ‘Angel Fund’, thus providing wings for youth entrepreneurship dreams.’

Ms. Christine Lam, President of Citibank (China) Co., Ltd. and Chief Executive Officer of Citi China, commented: “Citi attaches great importance to the cultivation of financial technology talents, and actively cooperates and explores with leaders in various industries with an open mind. ‘Citi Cup’, which has gone through 15 years, is Citi's initiative to support China's digital technology and talent development with practical actions.”

This year ‘Citi Cup’ was launched in May 2019, continuing to open the world's leading Citi API (Open Application Programming Interface) development platform to all contestants, encouraging teams to submit proposals to apply Citi API, and finally 7 teams were shortlisted for the top 20 National Finals. The project ‘Huadai-a one-stop service platform for consumer finance of B2B2C model for banks’ from the ‘Breakers’ team of Dalian University of Technology's won the special award "Best Mobile Open Bank Innovation Application Award".

Over the past ten years, a number of projects with good market prospects have emerged through ‘Citi Cup’ platform, and a large number of outstanding financial technology inter-disciplinary talents have been discovered. Some of the winning teams tried to transform their works into mature products and attracted the support of venture capital which reflected the recognition of the value of ‘Citi Cup’ by the industry and the market. Some outstanding students have started up their own companies by accumulation of valuable experience and contacts through the ‘Citi Cup’ competition.

The 2019 Citi Financial Innovation Application Competition ("Citi Cup") kicked off on May 24 in Shanghai. This year's competition continues to encourage Chinese university students to submit innovative solutions by using Citi's Application Programming Interface (API). Globally, Citi shares a variety of APIs to realize “Open Banking”, with partners so that customers can enjoy Citi services seamlessly on other applications.

Since its launch 15 years ago, the Citi Cup has grown to be a benchmark competition in the field of financial IT. To date, over 15,700 college students and 1,600 teachers have participated in the competition. The competition aims at promoting financial innovation through technology and encourages college students learning IT, Finance, Economy or Management to team up cross-majors or even cross-colleges and integrate technology innovations, industrial development and practices.

Christine Lam,Chief Executive Officer and President of Citibank (China) Co., Ltd., Citigroup Services and Technology (China ) Limited （CSTC） General Manager Arthur Chen, and representatives from Citi Cup’s non-profit partner, Shanghai Technology Entrepreneurship Foundation for Graduates attended the opening ceremony. Speaking on behalf of CSTC and Citi China, Arthur Chen said, “China boasts one of the largest talent pools in Fintech which we hope to leverage and showcase to the world the best practices generated by the young and talented innovators in this industry.” He further explained that one of the key technologies in Fintech is to utilize API and enable an even more open platform so that customers will have better, smoother and more convenient user experience.

To motivate more students and teachers to conduct research in this field, this year’s Citi Cup will consolidate three specialized awards into one called the “Best Mobile Open Banking Innovation Application.” In addition, 10 out of the Top 20 seats in the final round will be reserved for the best 10 teams using Citi APIs, although the competition doesn’t restrict on topics selected by submitters.

In recent years, “mass entrepreneurship and innovation” has been viewed as a new engine for China’s economic growth. At the same time, universities in China have channeled resources into it while Citi Cup provides a platform for students to put their innovative ideas to test.

The competition’s final round will be held at the end of the year, where 20 shortlisted teams will vie for the top three spots and one specialized award aforementioned. In addition, Shanghai Technology Entrepreneurship Foundation for Graduates will give out the “Best Investment Potential Award” and offer up to RMB500,000 as well as professional entrepreneurial service and guidance.

The 2018 Citi Financial Innovation Application Competition ("Citi Cup") announced its results at Dongbei University of Finance & Economics (“DUFE”), on November 3rd, 2018. Citi-Finbrain, a team from Nanjing University (NJU) won the first prize with their project “A+QUANT——Multiple Asset Allocation System,” and received a bonus of USD10, 000. It was the second time in a row that a team from NJU won this coveted prize.

For the past 14 years, Citi Cup has been devoted to cultivating financial and technology talents in China and regarded as a benchmark in this field. This year's competition, launched in June 2018, and saw submissions from over 700 students from 39 universities.

“As a global bank, Citi continues to evolve with the changing environment and leverages leading edge technology and its global network to Be the Best for Our Clients,” said Christine Lam, President of Citibank (China) Co., Ltd. and Chief Executive Officer of Citi China. “Citi focuses on contributing to the development of Fintech capabilities in the industry; we work with numerous universities across the country to provide financial education through the offering of practical banking programs, and to promote awareness and innovation through the hosting of competitions such as Citi Cup.”

Christine Lam and Wang Weiguo, Deputy Dean of DUFE, attended the award ceremony together with Citi Cup’s partners, Shanghai Technology Entrepreneurship Foundation for Graduates (STEFG) and Shanghai Municipal Commission of Economy and Information, as well as Citi Financial IT Education Fund Program Council (referred as “Council”) universities and participating schools.

The focus of this year’s competition is to encourage more submissions using Citi’s Application Program Interfaces (API). Citi shares a variety of APIs to realize “Open Banking”, with partners so that customers can enjoy Citi services seamlessly on other applications. This year’s competition consolidated three specialized awards into one called the “Best Mobile Open Banking Innovation Application.” In the first around of competition, more than 25 teams submitted API-related applications and 13 of them entered the final. The team WannaWin from Wuhan University won both the second prize and the special award with their project “Points League–A Point Exchange Platform Based on Bank Credit.”

Launched in 2005, Citi Cup aims at “Promoting Financial Innovation through Technology” and encourages college students learning IT, Finance, Economy or Management to team up cross-majors or even cross-colleges and integrate technology innovations, industrial development and practices. For the past 14 years, over 15,700 college students and 1,670 teachers have participated in the competition, and the program has reached 550,000 people through multiple channels, including campus activities and the media.

Arthur Chen, General Manager of Citigroup Service and Technology (China) Ltd. (CSTC), the main organizing body for Citi Cup said, “CSTC commits to continuously partner with STEFG and all 15 Council universities and collaborative schools to host Citi Cup to promote financial innovation through technology in China."

Through the years Citi Cup has witnessed admirable results. Several excellent programs have also spun off, some of which have attracted capital support from venture capitalists and entrepreneurship funds. One of the winners from the first Citi Cup established his own mobile technology company using a portion of his prize, and it is now a leader in its market segment. Another winner from 2010 started his own business leveraging his experience and resources from the competition, and he is today operating a successful mobile application company.

Vice President of DUFE, Professor Wang Weiguo commented: “DUFE emphasizes education on innovation and entrepreneurship and is committed to cultivating innovative talents. The University would like to leverage this competition to deepen collaboration with Citi in terms of talent development and build a mutually beneficial relationship.”

The 2018 Citi Financial Innovation Application Competition ("Citi Cup") kicked off last Saturday at the Dongbei University of Finance & Economics (“DUFE”) , calling for submission of innovative Fintech solutions among China’s universities.

Since its launch 14 years ago, the Citi Cup has grown to be a benchmark competition in the field of financial IT. To date, over 15,000 college students and 1,600 teachers have participated in the competition, and the program has reached 550,000 people through multiple channels, including campus activities and the media. The competition aims at promoting financial innovation through technology and encourages college students learning IT, Finance, Economy or Management to team up cross-majors or even cross-colleges and integrate technology innovations, industrial development and practices.

“The next stage of Citi’s Asia and China strategy focuses on digital and how to use technology to be the best for our client,” commented Christine Lam, President of Citibank (China) Co., Ltd. and Chief Executive Officer of Citi China. “As a leading country in digital customer experience, China boasts one of the largest talent pools in Fintech which we hope to leverage and showcase to the world the best practices generated by the young and talented innovators in this industry.”

The focus of this year’s competition is to encourage more submissions using Citi’s Application Program Interfaces (API). Citi shares a variety of APIs to realize “Open Banking”, with partners so that customers can enjoy Citi services seamlessly on other applications.

Arthur Chen, General Manager of Citigroup Services and Technology (China) Ltd. (“CSTC”), explained, “One of the key technologies in Fintech is to utilize API and enable an even more open platform so that customers will have better, smoother and more convenient user experience. ”

To motivate more students and teachers to conduct research in this field, this year’s Citi Cup will consolidate three specialized awards into one called the“Best Mobile Open Banking Innovation Application.” In addition, 10 out of the Top 20 seats in the final round will be reserved for the best 10 teams using Citi API, although the competition doesn’t restrict on topics selected by submitters.

To stay ahead of competition in the Fintech heat, Citi has invested heavily in technology globally. In 2017, Citi spent roughly $8 billion on technology, “easily more than what was invested by venture capital across all U.S. financial technology startups last year.” Globally, Citi consumer bank launched three times as many digital features in 2017 as it did in 2016, driving double-digit growth in digital and mobile clients worldwide. Citi also partnered with Nasdaq on the rollout of a pioneering application of blockchain and distributed ledger technology to facilitate and automate payment processing.

In recent years, “mass entrepreneurship and innovation” has been viewed as a new engine for China’s economic growth. At the same time, universities in China have channeled a lot of resources into it while Citi Cup provides a platform for students to put their innovative ideas to test.

“DUFE puts a lot of emphasis on students’ entrepreneurship and innovation and has created related teaching centers and incubation hubs. Our students have participated in Citi Cups for many times and obtained good results,” said Wang Weiguo, Deputy Dean of DUFE, this year’s co-organizer. “Through the competition, they practice what they have learnt and follow Fintech trends closely. The competition really helps cultivate Fintech talents and give them opportunities to realize their full potential, gain practical experience and build network.”

Indeed, there are many examples to echo Mr. Wang’s comment. For instance, one of the winners from the first Citi Cup has established a mobile technology company using a portion of his prize, and it has since become a leader in its market segment. Another winner from 2010 Citi Cup started his own business leveraging his experience and resources from the competition, and he is today operating a successful mobile application company.

The competition’s final round will be held at the end of 2018, where 20 shortlisted teams will vie for the top three spots and one specialized award aforementioned. In addition, Citi Cup’s non-profit partner, Shanghai Technology Entrepreneurship Foundation for Graduates, will give out the “Best Investment Potential Award” and offer up to RMB500,000 as well as professional entrepreneurial service and guidance.

The 13th annual Citi Financial Innovation Application Competition ("Citi Cup") announced its results at Sichuan University on Nov 25th 2017. For the past twelve years, Citi Cup has been devoted to cultivating financial and technology talent in China and regarded as a benchmark in this field.

Team “Reaper” from Nanjing University snagged the highly-coveted award with their “Fund Investment Advisor System based on evaluations from multi-aspects”. The team received $10, 000 for the first prize. Yu Jin, EVP of CCCL and Chief Human Resources Officer of Citi China, Jennifer Yang, Citigroup Service and Technology (China) Ltd. (CSTC) General Manager and Professor Lin Zhang, Deputy President of Sichuan University attended the award ceremony.

Through the years, Citi Cup has witnessed impressive results. Several excellent programs have also spun off, some of which have attracted capital support from venture capitalists and entrepreneurship funds. This is evidence that Citi Cup is well recognized by the industry and the market. Over the years, a group of multi-talented youth with both financial and IT knowledge have spun off from the competition. One of the winners from the first Citi Cup established his own mobile technology company using a portion of his prize, and it is now a leader in its market segment. Another winner from 2010 started his own business leveraging his experience and resources from the competition, and he is today operating a successful mobile application company.

Professor Lin Zhang commented, “This year’s competition saw many great submissions linking big Fintech revolutions and industry’s hot topics. Sichuan University puts innovation and talent development as a top priority. We’re glad to partner with Citi Cup to facilitate collaboration between universities and enterprises, industry innovation and Fintech talent development.”