Intense 15-week Innovation Programme commences for Autumn Cohort recruits
8 fintech start-ups hand-picked from nearly 500 applicants from 10+ countries
Start-ups to co-create solutions with YES BANK, focusing on technologies like Cybersecurity, Big Data & Analytics, Process Automation, WealthTech, Invest Tech and Smart Decisioning among others.
YES FINTECH’s Innovation Programme will fast-track expansion of 3 global start-ups from Poland, Spain and Israel, in the Indian market
Mumbai, January 9, 2018: YES BANK, India’s fifth largest private sector bank has launched the second cohort of its fintech start-up accelerator, YES FINTECH. The 15-week Innovation Programme will witness 8 start-ups, chosen from over 500 applicants from 10+ countries including US, Africa, Israel, major South-East Asian & European countries, undergo rapid enhancement of their value quotient through product-market-fit guidance, wide access to global audience and accelerated joint go to-market solutions.
The Autumn Cohort of YES FINTECH includes companies which focus on Lending including alternative lending, Digital Payments, Real-time Data Analytics, Cybersecurity, Big Data & Analytics, Process Automation, Smart Decisioning, Digital Banking, Wealthtech and Invest Tech.
The shortlisted startups include Balance Technology, Karza, Sentimer.AI, Pingal, Fyle, Fin 360, bNESIS and Dov-E.
Commenting on the development, Mr. Rana Kapoor, MD & CEO, YES BANK, said ”With fundamental changes in the economy powered by Digital India and Start-up India, start-ups in India will increasingly become agents of development and enable ample job creation. The successful launch and implementation of innovative solutions from around the world, as a part of YES FINTECH’s Innovation Programs, stands testimony to YES BANK’s relentless efforts towards embracing new technologies, innovating and expanding the Indian start-up ecosystem for the future.”
As a part of the Innovation Programme, start-ups selected to the Autumn cohort will have a funding option of USD 1 Mn via VC Partners without any equity commitment to YES FINTECH, access to 100+ YES BANK APIs, mentorship from global sectoral experts, competitive advantage through over 2 million retail and 10,000 corporate clients of YES BANK and exclusive international exchange programs wherein start-ups can visit foreign markets to understand the global Fintech landscape and avenues for market entry bye leveraging YES FINTECH’s 20+ global partnerships that were forged last year.
The details of the YES FINTECH Cohort#2 startups are as follow:
Balance Technology – Balance is a personal savings app where petty change is saved and invested in mutual funds
Karza- Karza provides Cloud based solutions for lending decisions andaims to assist lending institutions in addressing critical issues of NPAs and Loan Frauds through Big Data.
Sentimer.AI - Sentimer.AI is a Spanish fintech start-up that uses AI to customize solutions for customer acquisition and cross-selling.
Pingal –Pingal is focused on analytics that act as a workbench for intelligent dashboard creation
Fyle – Fyle works on Expense Management Automation
Fin 360- Fin 360 provides solutions to automate the process of reading and analysing bank statementshelping underwriters in understanding a customer’s financial behavior
bNESIS – bNESIS is Polish fintech start-up focused on building a unified API service that reduces the complexity of integration with multiple clouds, social, payment, analytics and other services into mobile apps
Dov-E – Dov-E is an Israeli start-up utilizing sound waves to provide seamless, secure, quick and easy mobile payments
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”.
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