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YES Fintech: YES BANK Business Accelerator for Fintech Startups Receives 750 Applications - Press Release

  • 50+ Applications received from Global Fintech startups
  • 4 Startup Meet up sessions were hosted in Hyderabad, Mumbai, Bangalore and New Delhi to engage with Fintech startups across the country
  • 10 startups to be shortlisted for the first cohort launching on March 20, 2017

Mumbai, February 16, 2017:  The first cohort of YES FINTECH has received phenomenal response from the global community of Fintechs, with 753 applicants around the world. The application phase concluded on February 11, 2017. The companies represent domains like payments, lending, treasury & forex, Governance Risk & compliance, wealth management etc. and cutting across Baas/PaaS/SaaS, Big Data & analytics, BlockChain, AI -Bots, etc.

10 start-ups will be selected for the first cohort of the 15 week program commencing on March 20, 2017. YES FINTECH Accelerator – a joint initiative of YES BANK, T-Hub, Anthill and Let’s Talk Payments will involve 3 week onsite interactions at Mumbai and Hyderabad and 12 weeks offsite interactions, wherein the selected startups can continue to work on their business from the home location.

YES FINTECH an extension of YES BANK’s Alliances Relationships and Technology(A.R.T) philosophy will work with the fintech start-ups to:

  • Support and nurture disruptive solutions in Financial services delivery
  • Create scalable business and deploy innovative technologies within a collaborative framework;
  • Integrating such technologies into the Bank’s ecosystem by providing:
    • Digital Infrastructure support (API Banking, BIN Sponsorship, etc.)
    • Access to Funding (through the Bank/ its  network of Investors, across PE/ VCs)
    • Advisory on Go-To-Market strategies and market penetration
  • Provide access to YES BANK Network of 2 million + retail, 10,000 + SME and 5000 + corporate customers
  • Access to funding upto USD 1 million through VC partners without any upfront equity commitment

 

As part of the program outreach, YES BANK has been organizing interaction sessions across the country to facilitate engagement in the Fintech start-up ecosystem. The strategic locations were chosen keeping in view the Fintech clusters in the country.

At Hyderabad, T-Hub, , hosted the YES FINTECH meet on January 17, 2017 which was followed by a session hosted at IIT Bombay, on January 29, 2017. The third session was held at the silicon valley of the east- Bangalore on January 31, 2017 and finally the last session concluded at the New Delhi on
February 3, 2017.

The YES FINTECH events has witnessed participation from over 500 Fintech startups innovating in different sectors like payments, blockchain, trade finance, etc. Key speakers included Ritesh Pai, Senior President & Country Head, Digital Banking, YES BANK, Jay Krishnan, CEO, T-Hub; Prasad Vanga, CEO- Anthill and Amit Goel, CEO- LetsTalkPayments (LTP) joined the YES FINTECH event sessions to share their views on the recent developments in the Fintech industry and a dedicated panel on the YES FINTECH program.

In addition to the key partners of YES FINTECH, these sessions saw participation from the ART partners of YES BANK – Sameer Nigam, CEO- Crownit; Lizzie Chapman, Co-founder & CEO, ZestMoney, Bala Parthasarthy, Co-founder Money Tap; Vinay Bagra, Co-founder & CEO, Niyo solutions; Mohit Lalvani, Co-founder, QwikWallet; Co-founders, Benow, Trupay and many others as well.

About T-Hub:

T-Hub is India’s fastest growing start-up engine catalysing innovation, scale and deal flow

T-Hub is a unique public/private partnership between the government of Telangana, three of India’s premier academic institutes (IIIT-H, ISB and NALSAR) and key private sector leaders. T-Hub aims to forge many such partnerships with governments and corporates across the world to setup T-Bridge centres, strengthening trade relations and attracting investment into the state of Telangana.

T-Hub is one of the largest start-up ecosystem builders in India, with over 2000 start-ups in its database clustered into various stages of growth across sectors of specialization - a model of community development that is unique to Hyderabad. Such a unique model enables investors and corporates to plan programs and capacity building initiatives in a targeted and organized manner. T-Hub is also the only model where the government is working intensely with the investor and the partner to fuel innovation and facilitate enterprise. For more information about us, please visit – www.t-hub.co

About Anthill:

Anthill is a speed scaling platform for early growth stage startups. We have alliances with right partners globally among funds, family offices and accelerators and we collaborate with them to co-invest in highly scalable business ideas that have growth opportunities in Asia.

Within just two years, Anthill has built a startup portfolio of 15 companies across India, US and SE Asia that has grown by 150% in portfolio value. Anthill has been able to do this through their robust curation process to identify highly scalable startups and value creation in startups through their speed scaling services.

About YES BANK

YES BANK, India’s fourth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.

YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.

YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “BUILDING THE FINEST QUALITY LARGE BANK OF THE WORLD IN INDIA”.

For further information, please contact:

YES BANK
Jitesh Patel
Ph.: +91 22 3347 9753, +91 9820813570
Email: jitesh.patel@yesbank.in

Delna Irani
Adfactors
Ph.: +91 9820660467
Email: delna@adfactorspr.com

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