MUMBAI:
Yes Bank, India’s fifth largest private sector bank has launched the second cohort of its fintech start-up accelerator, Yes Fintech.
The 15-week Innovation Programme will witness 8 start-ups, chosen from over 500 applicants from 10+ countries including US, Africa, Israel, major South-East Asian & European countries, undergo rapid enhancement of their value quotient through product-market- fit guidance, wide access to global audience and accelerated joint go to-market solutions.
The Autumn Cohort of Yes Fintech includes companies which focus on Lending including alternative lending, Digital Payments, Real-time Data Analytics, Cybersecurity, Big Data & Analytics, Process Automation, Smart Decisioning, Digital Banking, Wealthtech and Invest Tech. The shortlisted startups include Balance Technology, Karza, Sentimer.AI, Pingal, Fyle, Fin 360, bNESIS and Dov-E.
Commenting on the development, Rana Kapoor, MD & CEO, Yes Bank, said ”With fundamental changes in the economy powered by Digital India and Start-up India, start-ups in India will increasingly become agents of development and enable ample job creation. The successful launch and implementation of innovative solutions from around the world, as a
part of Yes Fintech’s Innovation Programs, stands testimony to Yes Bank’s relentless efforts towards embracing new technologies, innovating and expanding the Indian start-up ecosystem for the future.”
As a part of the Innovation Programme, start-ups selected to the Autumn cohort will have a funding option of USD 1 Mn via VC Partners without any equity commitment to Yes Fintech, access to 100+ Yes Bank APIs, mentorship from global sectoral experts, competitive advantage through over 2 million retail and 10,000 corporate clients of Yes Bank and exclusive international exchange programs wherein start-ups can visit foreign markets to understand the global Fintech landscape and avenues for market entry bye leveraging Yes Fintech’s 20+ global partnerships that were forged last year.
The details of the Yes Fintech Cohort#2 startups are as follow:
1.Balance Technology – Balance is a personal savings app where petty change is saved and invested in mutual funds
2.Karza- Karza provides Cloud based solutions for lending decisions andaims to assist lending institutions in addressing critical issues of NPAs and Loan Frauds through Big Data.
3.Sentimer.AI – Sentimer.AI is a Spanish fintech start-up that uses AI to customize solutions for customer acquisition and cross-selling.
4.Pingal –Pingal is focused on analytics that act as a workbench for intelligent dashboard creation
5.Fyle – Fyle works on Expense Management Automation
6.Fin 360- Fin 360 provides solutions to automate the process of reading and analysing bank statementshelping underwriters in understanding a customer’s financial behavior
7.bNESIS – bNESIS is Polish fintech start-up focused on building a unified API service that reduces the complexity of integration with multiple clouds, social, payment, analytics and other services into mobile apps
8. Dov-E – Dov-E is an Israeli start-up utilizing sound waves to provide seamless, secure, quick and easy mobile payments,
