Thursday , July 27 2017

Yes Bank to aid 12 startups for fintech business

Yes Bank’s accelerator program for fintech Business chooses 12 startups for its inaugural cohort.

Yes Bank has chosen 12 fintech startups that are set to join its inaugural cohort of its accelerator programme. The Yes Bank Business Accelerator Program was set up in association with startup incubator T-Hub, startup advisory Company Anthill and fintech platform Let’s Talk Payments.

Yes Bank

The selected startups will go through a 15-week programme involving onsite interactions and offsite interactions. The online interactions are for three weeks which are going to held in Mumbai and Hyderabad and offsite interactions for 12 weeks from their home locations, the company said in a press statement.

Yes Bank received 753 Applications from 18 countries out of which it has shortlisted 12 startups. The selected startups will work under various domains in the fintech space including payments, lending, insta-credit, risk intelligence, capital markets , cyber security and enterprise software. These firms use technologies that cut across artificial intelligence, machine learning, big data, block chain, chatbots and application programming interface (API)-based SaaS solutions, to name a few.

The following are the 12 selected Startups for Yes Bank Accelerator program:
• SoCash

• Signzy

• Rupeeseed

• Redcarpet

• R1mo

• Paykey

• Numberz

• Morph.Ai

• FRS Labs

• Click & Pay

• Authme

• Anytime Loan

“Our main purpose to support these 12 startups is not to fund them or acquire equity in them but to support the development of innovative solutions in fintech space. However we will use the products developed by these 12 startups depending upon the need,” said Rana Kapoor, MD and CEO of YES Bank

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The accelerator programme provided support and develop solutions in financial services delivery, deploy innovative technologies within a cooperative framework, create scalable businesses and integrate such technologies into the bank’s ecosystem by providing digital infrastructure support like API banking and bank identification number sponsorship.

The selected 12 startups can also benefit from the investments through the bank and its partner network of investors, advisory on go-to-market policies and market penetration, and can access Yes Bank’s network retail, small and medium-sized enterprises and corporate customers.

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