Becomes 1st Bank-led Innovation Program in India to On-board Multiple Global Ecosystem Partners
- Zero upfront equity commitment to YES FINTECH with 1 million USD funding option available to startups via VC Partners
- Access to 100+ YES BANK APIs and mentorship from global sectorial experts
- Accelerated go-to-market to YES BANK’s 2 million + retail and 10,000 corporate clients within 15 weeks
- Exclusive international exchange immersion programs for selected start-ups; opportunity to visit respective markets to understand local Fintech landscape and enable market entry
- 9 out of 10 Fintechs from the first cohort are integrating their solutions with YES BANK and doing a joint ‘go-to-market’- over 4 million USD raised by cohort Fintechs post completion of the program
- First cohort had seen 750+ fintechs from 18 countries apply to the program
Mumbai, September 13, 2017: YES BANK, India’s fifth largest private sector bank, is calling for applications from Fintech Startups across the world for the second Cohort of
YES FINTECH – YES BANK’s Innovation Program for Fintech Start-ups. YES FINTECH has created a network of 20+ global startup ecosystems. The Innovation Programme will assist fintech start-ups with product-market-fit guidance, wide access to global audience and accelerated joint go to-market within 15 weeks.
Network of Global Partners
In order to bring technology solutions from around the world to India, YES FINTECH has successfully forged key strategic partnership agreements with leading start-up biomes, expanding its network across US, UK, Europe, S.E Asia, Middle East including Bahrain and Israel among others. These partnerships include:
- OurCrowd- Israel-based Crowd-funding platform
- QC Fintech- US-based leading Fintech accelerator
- MaGIC - Malaysian Global Innovation & Creativity Center, focusing on the 10 ASEAN markets, an initiative by Ministry of Finance, Government of Malaysia
- Lattice 80 – Singapore’s largest Fintech Hub
- Holland Fintech- Netherlands-based Fintech ecosystem
- Innovation Center of Denmark- Cooperation between Ministry of Foreign Affairs of Denmark and the Danish Ministry of Higher Education and Science
- Abu Dhabi Global Markets - International financial center focused on growing financial services in UAE
- Nestholma – Finland based leading fintech accelerator-of-its-kind in the Nordic region
Commenting on the launch, Mr. Rana Kapoor, Managing Director & CEO, YES BANK, said, “The BFSI industry in India is clearly at an inflection point and we are thrilled that with YESFINTECH we are leading with innovation and shaping the Fintech ecosystem in the country. YES BANK has identified its key focus areas as part of its digital transformation journey which includes Blockchain, Behavior based cyber security, AI and ML, Big data analytics and biometrics across front, mid and back-end operations of the bank. We believe, the strategic integration of solutions into YES BANK systems from the successfully graduated Fintech start-ups of inaugural cohort of YESFINTECH, will give us substantial advantage in the market. Further, by inviting global partnerships we have opened the gates of cross-border innovations in Fintech and expect this move to benefit the entire Fintech space in India.”
The Autumn Cohort of YES FINTECH, to begin soon, will primarily focus on Lending including alternative lending, Digital Payments, Real time data analytics, Cybersecurity, Big data & Analytics, Process Automation, Smart Decisioning, Digital Banking, Wealthtech and Investech. Over the 15 weeks of the program, these startups will co-create solutions with YES BANK and jointly with the bank will take their solutions to market.
The application and selection process is simple and straight-forward. Interested start-ups can apply here (closing date: 7th October, 2017), post which the applications will go through a stringent evaluation process for shortlisting followed by a pitch session to a panel of YES FINTECH mentors, VC partners and YES BANK top management. The selected start-ups will then work with YES BANK mentors and partners to build on their solutions.
To know more about YES FINTECH – Click here and APPLY NOW!
Application Close Date: 7th October
Pitch Day: 24th to 25th October
Cohort Launch: 13th November
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/