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YES Bank launches biz accelerator programme for fintech startups
India’s fifth largest private sector bank, YES Bank, in collaboration with T-Hub, an incubation facility developed by the Telangana government in public-private partnership to support technology-enabled startups, and Anthill, on Tuesday launched YES Fintech, a business accelerator programme.
Hyderabad: India’s fifth largest private sector bank, YES Bank, in collaboration with T-Hub, an incubation facility developed by the Telangana government in public-private partnership to support technology-enabled startups, and Anthill, on Tuesday launched YES Fintech, a business accelerator programme. LetsTalkPayments, a global platform for financial technology (fintech) insights, is the knowledge partner.
YES Fintech is inviting applications from across the global community till February 3, 2017, on its website www.yesfintech.com .The top 12 selected startups will finally enroll in a 15-week dual-destination programme, split between Mumbai and Hyderabad.
YES Bank has been collaborating with and supporting more than 100 fintech startups in the country to provide innovative financial solutions to its corporate, SME and retail customer base as part of its Alliances, Relationships & Technology (ART) approach to digitised banking.
YES Fintech Accelerator will further augment this approach and help the bank co-create disruptive innovations in the financial inclusion, MSME-focused solutions, payments, lending, compliance, risk management, trade finance, capital markets and forex and treasury space.
“This is a truly one-of-a-kind programme, which provides all startups in the programme with access to YES Bank’s digital banking infrastructure as well as our robust customer network, while requiring zero upfront equity commitment from startups,” Rana Kapoor, Managing Director and CEO of YES Bank, said here on Tuesday. This will be a great opportunity for participating startups to scale and take their business to the next level.
This programme will also give startups a chance to co-create innovative solutions for YES Bank’s customers, while also giving them access to expert mentors, a global network of investors and VCs and guidance on ways to scale up their venture said Jay Krishnan, CEO, T-Hub.
According to Prasad Vanga, Founder and CEO of Anthill, the fintech sector graph has seen a quick upward rise over the years and 2016 saw about 137 fintech startups being funded for over $512 million.
“With Anthill’s speed-scaling services, we will open up different channels of customer acquisition for the startups, help in product refinement and developing new market entry strategies. By the end of the programme, we also aim to introduce the startups to our vast network of global funds and family offices,” he added.
