Fintech is the latest buzzword in the startup ecosystem. As the Indian economy grows at a lightning pace and more integration with the digital medium takes place, banks and financial institutions are facing new challenges every day. Innovative and out-of-the-box solutions which can help them overcome these challenges are the need of the hour.
YES BANK, through its ART approach – Alliances, Relationships and Technology (A.R.T.), is actively working to create a digital and hassle-free banking experience that promotes the growth of a cashless economy. One such initiative is their business accelerator, YES FINTECH, launched earlier this year, in partnership with T-Hub and Anthill Ventures, and LetsTalkPayments. As part of this initiative, YES BANK co-creates innovative banking solutions with selected startups, and takes the solution to the bank’s retail and corporate customers.
Eleven startups were selected for the 15-week programme which kicked off in March this year. After weeks of working on their solutions and refining them after consultations with mentors and experts, the following startups are ready to take the stage, and showcase their work as part of the Demo Day being held on July 7, 2017 in Mumbai.
Anytime Loan – Their solution makes availing a short term instant loan easier through a credit scoring model. In fact, they claim the process takes only 10 minutes.
RedCarpet - RedCarpet will use its innovative credit scoring model and on-street presence in Delhi to source student customers of pre-approved colleges who wish to make online purchases on credit, without any credit card or bank details.
Numberz - This Gurugram-based startup will present how they integrate day-to-day banking within core business workflows for simplifying tasks like tracking expenses, managing payrolls, syncing data, making payments, etc. for small businesses
Morph.ai - In collaboration with YES BANK, the startup was building an AI-based bot to automate processes for YES SECURITIES’ clients. The Chatbot will address queries on buying and selling of shares that interest the customer, viewing portfolios, and getting quotes on shares, among others.
Rupeeseed - Based in Mumbai, this startup will be presenting a new look for the YSL platform, including a range of new features. They are also introducing health scores and analytics on client holdings, to identify stocks on various parameters like valuation, growth prospects, stability, etc.
Authme - The startup will demonstrate a platform to ease cyber authentication processes. Together with YES BANK, the startup is revamping the multi-fold security layers within the consumer banking interface, and moving the focus to behavioural authentication instead.
FRS Labs - This Bengaluru-based startup was working with YES BANK to use its face recognition algorithm to identify bearers in branches by matching the soft copy of their picture in the database, with the current photo taken.
PayKey - The Israel-based startup was working with YES BANK to integrate the YES PAY app with their keyboard application which allows users to check their account balance, account history and initiate P2P payments, among others.
Signzy - Bengaluru-based Signzy will demonstrate a prototype that aims at digitising documentation within banks. Their solution helps digitalise processes such as identification, background checks, issuance of electronic bank guarantees, etc.
Click&Pay - A mobile-based payment solutions startup, Click&Pay will showcase a prototype of a single interface for payment of pending invoices through the connected bank account.
All the solutions are very innovative and the competition is tough. If you are excited about these solutions and are keen to know which ones will make a mark in the fintech industry, you need to definitely be there on Demo Day - July 7, 2017.
Venue: One India Bull Centre, Lower Parel, Mumbai
Timings: 2:30 PM - 6:00 PM (Startup Showcase); 6:00 PM onwards (Demo Day event)