Introducing The Smarter Worklife Challenge
By David Chubak, Head of Productivity, Citi December 18, 2015 11:30 AM
The FinTech Transformation
In the past year, I have had the privilege to work closely with leaders across Citi to introduce new ways of enabling progress by accelerating innovation that influences the way we work, live, bank, and serve our clients and communities. I traveled across multiple regions with Citi business heads, learning from external innovators, and collaborating with a growing FinTech population around how we can deliver a more “remarkable” client and employee experience. It has been inspiring to meet thought leaders across industries to discuss the future of banking and how we at Citi can bring the benefits of the FinTech transformation to our global network – and how we manage our internal processes. After all, a remarkable client experience begins at home, with our employees.
Re-Imagining the Way We Work and Live
How could we encourage the most talented developers and startups to imagine and build solutions that we could apply internally? This would require an entirely new kind of program – something we haven’t seen from any other bank. With Citi FinTech, we paved the way earlier this year through the Citi Mobile Challenge, an open innovation program that sources innovation to drive creative solutions to client experience pain points. To end the year, we collaborated across Citi teams – with representation from our Institutional Clients Group, Global Consumer Bank, Technology, Human Resources, and International Franchise Management – to create the Citi Smarter Worklife Challenge. This initiative seeks to crowdsource leading technologies to connect our employees with productive and fulfilling work, from recruitment through retirement.
The challenge intends to draw out creative solutions to reimagine business processes, simplify and standardize the way we manage our company, and take our execution strategy to the next level. By harnessing great ideas and leveraging cutting-edge technology, we can modernize and enrich Citi’s global corporate culture. The open innovation platform will also allow for co-creation and collaboration between our businesses and the tech community, combining execution and innovation with talented leaders across our global network to improve the way we work and live.
The Smarter Worklife Challenge
The Smarter Worklife Challenge competition launched in October, and we received 130 submissions from over 20 countries. Applications came from leading technology companies and emerging start-ups alike, all with a passion for delivering remarkable experiences and changing our working lives. The solutions address multiple functions and processes that improve decision making and connectivity across 100+ countries. We are excited to introduce new potential solutions that will change the way we work at Citi and meet the evolving needs of our employees to create a more dynamic and rewarding work experience. Our enthusiasm for this program is already generating buzz within Citi’s walls and among teams worldwide.
In the weeks ahead, finalists will be announced and invited to present their working prototypes to senior Citi leadership at a Demo Day in February 2016. The teams generating the top innovations will be eligible to receive up to $50,000 in cash awards, and also the opportunity to have their solution incubated by Citi.
To learn more about the program, see updates on the Finalists, or attend Demo Day, visit our website.