YES BANK today launched YES FINTECH – a unique business accelerator program in collaboration with T-Hub – India’s fastest growing start-up engine catalyzing innovation, scale and deal flow and Anthill and 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 start-ups will finally enroll in a 15 week dual destination program, split between Mumbai and Hyderabad.
YES BANK has been collaborating with and supporting more than 100 Fintech start-ups in the country to provide innovative financial solutions to its Corporate, SME and retail customer base as part of its Alliances, Relationships & Technology (A.R.T) approach to Digitized 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 & Treasury space.
YES FINTECH Accelerator is a 15 week multi-mode dual location program (based in Mumbai and Hyderabad). YES FINTECH will select start-ups from around the world to:
– Support and nurture disruptive solutions in Financial services delivery
– Create scalable business and deploy innovative technologies within a collaborative framework;
– Integrating such technologies into the Bank’s ecosystem by providing:
– Digital Infrastructure support (API Banking, BIN Sponsorship, etc.)
– Access to Funding (through the Bank/ its network of Investors, across PE/ VCs)
– Advisory on Go-To-Market strategies and market penetration
– Provide access to YES BANK Network of 2 million + retail, 10,000 + SME and 5000 + corporate customers
– Access to funding without any upfront equity commitment
On this occasion Mr. Rana Kapoor, MD & CEO, YES BANK said,” The financial services industry is on the cusp of a digital revolution and financial technology start-ups are leading this change. YES BANK has been actively collaborating with FINTECH start-ups through our –A.R.T model – Alliances, Relationship, Technology to provide innovative Banking Solutions to our customers. YES FINTECH Accelerator takes this philosophy forward and provides start-ups a platform for creating sustainable and market ready products. This is a truly one of a kind program which provides all start-ups in the program with access to YES BANK’s digital banking infrastructure as well as our robust customer network, while requiring zero upfront equity commitment from start-ups.”
Jay Krishnan, CEO, T-Hub opined, “It gives us immense pleasure to enter into a strategic partnership with YES Bank, Anthill and Let’s Talk Payments as we launch the YES FINTECH Accelerator program. This will be a great opportunity for participating start-ups to scale and take their business to the next level. T-Hub’s extensive reach in the startup ecosystem including academia and industry will benefit the program by not only bringing in the right startups but also by providing them with the necessary direction and mentorship to scale. This program 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.”
Prasad Vanga, founder and CEO, Anthill says, “The Fintech sector graph has seen a quick upward rise over the years and 2016 saw about 137 fintech startups being funded for over $512mn. Creating a space for this sector to grow faster and better, Anthill is proud to be associated with Yes Bank, T-Hub and Let’s Talk Payments to launch the YES FINTECH Accelerator. With Anthill’s speedscaling 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 program, we also aim to introduce the startups to our vast network of global funds and family offices.”