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
•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.