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 is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 29 states and 7 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/