After running its first successful cohort in 2017, YES FINTECH, a 15-week accelerator programme, has launched its Autumn cohort in collaboration with YES Bank, LetsTalkPayments and PWC. It has picked eight fintech startups for the second version of this programme this year have since been announced.
These eight startups have been selected from over 500 participants and over the 3 months, the Autumn Cohort will take startups through product-market-fit guidance, Proof of Concept (PoC) validation and Go-To-Market advisory. Some of the focus areas to be included in the sessions are: Alternative Lending, Digital Payments, Real-time Data Analytics, Process Automation, Smart Decisioning, Wealthtech and Invest Tech.
In addition to the classroom kind of training, the startups will also be eligible for tapping funding through the VC partners to the extent of $1 million and draw upon the resources of global mentors in their respective sectors. They can also benefit from the wealth of resources that Yes Bank brings to the table like its 100+ APIs and bank customers who number 1 million retail customers and 10, 000 corporate customers. There are exclusive international exchange programmes also through which the Indian startups can hope to visit foreign markets.
The first such cohort, which was in collaboration with T-Hub, Anthill Ventures and LetsTalkPayments saw 10 fintech startups being mentored and Yes Bank is trying to create more value for their own customers through the innovative products and services that these startups can deliver, once they are up and running.
Here are the eight startups chosen for the Autumn Cohort YES FINTECH 2018
Balance Technology: The Bangalore-based startup has developed an app meant for guiding people to make personal savings and to invest them in mutual funds. Imparts financial education also through the app.
Karza: Mumbai-based provider of cloud-based solutions for lending decisions and also uses Big Data technology to assist banks and financial institutions in the areas of NPAs and loan frauds.
Sentimet: This Spanish fintech startup offers AI-based customized solutions for customer acquisition, cross-selling and customer service.
Pingal: Pingal Technologies is into analytics and supports intelligent dashboard creation by offering the appropriate workbench.
Fyle: Their specialisation is expense reimbursements within corporate entities. Using emails and consumer apps, Fyle can help make the expense reimbursement process more efficient and intelligent.
Finbit: The business model of this Delhi-based startup involves developing a technology to automate the reading and analysing of bank statements which can simplify the process of assessing the credit worthiness/financial behaviour of applicants for underwriters.
bNESIS: This Warsaw based fintech startup is engaged in building a unified API service that reduces the complexity of integration with multiple clouds, social, payment, analytics and other services into mobile apps.
Dov-E: The Israel-based startup has developed a technology to utilise sound waves to provide seamless, secure, quick and easy mobile payments.