The Citi Mobile Challenge will be a completely virtual developer competition and is open to anyone - individuals, teams and companies. Participants can submit entries in one of two categories: innovative mobile solutions or B2B mobile solutions. Participants will receive Citi Mobile Banking API toolkits and branding guidelines on which to develop their applications and solutions. Finalists will be selected by a panel of entrepreneurial and tech leaders as well as Citi executives, judging submissions on criteria based on the quality of the code, how easily it can be integrated with the Citi mobile banking platform and the application's power and potential to impact the lives and businesses of users in Latin America.

"Mobile banking has transformed how people and businesses live and operate throughout many parts of the world and now its Latin America's turn," said Jorge Ruiz, Business Development and Digital Banking Head for Citi Latin America. He added, "At Citi, we are tapping the power of global crowdsourcing to help infuse our organization with innovative ideas and approaches to meeting the opportunities and solving the challenges facing the financial industry."

Selected finalists will be invited to compete in one of two demo day events, May 30 & 31, in Buenos Aires, Argentina, and June 6 & 7 in Bogota, Colombia. Winners will share $60,000 in cash awards and have the opportunity to engage Citi in commercial relationships to launch their applications.