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Fintech conducts demo day
Fintech Valley, Vizag, conducted a demo day to enable start-ups to showcase their solutions to leading corporates in banking and financial industry in Mumbai on Friday.
Visakhapatnam: Fintech Valley, Vizag, conducted a demo day to enable start-ups to showcase their solutions to leading corporates in banking and financial industry in Mumbai on Friday.
As a part of the connect programme, eight corporate partners, who were looking for innovative solutions, shared their 19 top priority cases. The corporate partners are ICICI Lombard, DCB, Kotak Mahindra, RBL Bank, Fullerton India, IDFC, Tata Capital and Bajaj Allianz.
The programme Innovation Challenge was held in three stages. The first phase is the challenge phase that began in February 2018 in which use cases were opened to the start-ups for application.
The phase had applications of over 120 from start-ups pan India and a few from across the globe. This was followed by a screening phase in which the start-ups underwent an initial screening process to help sieve through the applications.
A final shortlist of 38 start-ups was selected for a final demo to the associated corporate partners. Post the demo day, a final set of start-ups were given a chance to carry Proof of Concept (PoC) with corporate, all of which will need to be executed in Fintech Valley, Vizag.
Dharmendra Sunkara, CEO, Fintech, said that “Fintech Valley is a very promising sector and with the rapid rate of adoption of mobile transactions, it would prove to be one of the most profitable sectors in the coming years.
The Fintech Valley is aiming to make Vizag a central hub for all businesses and investors dealing in Fintech, he added.The Startup Market Connect was divided into six themes, including customer experience, process automation, financial inclusion, risk management, lending and payments, the CEO informed.
AP Fintech Valley, Vizag, was conceptualised with an aim to bring together public and private players, state-of-the-art incubators and accelerators, innovation labs, mentorships, angel investors and anyone willing to break free from traditional processes. The Fintech Valley also launched a ‘Use Case Repository’ across banks, NBFCs, insurance companies, and capital market companies to accelerate innovation in financial services industry, he explained.
