Last week we revealed that Cellum would be participating in the first European installment of Ford Motor Company’s prestigious automotive app challenge. Now comes word of an even more exciting invitation, to the final round of the Citi Mobile Challenge APAC, the Asia-Pacific segment of the global financial services giant’s developer program aimed at “reimagining mobile banking.”
Both Cellum and its US-based sister firm motionQR were selected for the final round of the challenge, which will take place in four different cities across the Asia-Pacific region in early November.
Cellum’s submission is a lending app called QLoan, which allows users to quickly, easily and securely apply for a loan from Citi, and also to take advantage of “crowd lending” possibilities. In the latter case, other individuals provide financing, often at lower rates than those offered by traditional financial institutions.
Meanwhile, motionQR made it into the final round with an innovative forgery-proof mobile customer ID solution allowing banks to identify customers without using traditional photo ID-based authentication, which is impractical in some international markets due to local customs.
Cellum and motionQR’s solutions will be demonstrated on November 6 in Singapore, where Cellum recently established its APAC regional headquarters.