Yes Fintech, a Yes Bank's business accelerator program for Fintech startups in India said that it has chosen 12 fintech startups for its inaugural cohort. “Over the 15 weeks the startups will receive mentorship from industry experts on creating scalable businesses from their products and guidance to deploy their innovative technologies within a collaborative framework,” said Yes Bank.
According to Yes Bank, the startup would be encourage to integrate their technologies into Yes Bank's ecosystem through 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.
These startups have been selected from the top 35 startups who showcased their solutions to the YES fintech leadership team over a 2 day pitching session. The month long application phase of the program received 753 applicants.
The Accelerator has been set up in collaboration with T Hub – a Hyderabad based start-up engine, and Anthill Ventures. LetsTalkPayments, a platform for financial technology (Fintech) insights is the Knowledge partner
The 12 startups selected from Fintech domains like payments, lending and alternative scoring models, insta-credit, cyber security, risk intelligence, capital markets and enterprise software and cutting across technologies like artificial intelligence and machine learning, big data & analytics, biometric and alternative authentication, blockchain, chat bots, API based SaaS solutions will go through a 15 week program which will involve 3 week onsite interactions at Mumbai and Hyderabad and 12 weeks offsite interactions, wherein the selected start-ups can continue to work from the home location.
The 12 winners, selected to the inaugural cohort are:
- SoCash: soCash is creating the largest small network of small merchants to make cash accessible beyond ATMs
- Signzy: Signzy is creating ‘building blocks for a Digital Trust system through bank-grade digital KYC, biometric enabled digital contracts and due diligence through Algorithmic Risk Intelligence
- Rupeeseed: Rupeeseed provides capital market solutions for retail and institutional trading using robo advisory and analytics engine
- Redcarpet: Redcarpet uses alternative social and digital Scoring for insta-credit to new to credit and non-bureau consumers. Redcarpet is a Y Combinator summer 2015 graduate
- R1mo: R1mo is the first FX B2B marketplace in India using blockchain technology offering clients a customized distributed financial technology solution that interfaces with existing systems/processes for cross-border payments
- Paykey: Paykey is an Israel based startup making banking simple and frictionless through an integrated in-app keyboard which gives users to make payments while using any app
- Numberz: Numberz is simplifying running the business (Cash- flow) by Seamlessly integrating Business Workflows with Banking Services
- Ai: Morph.ai is a complete Bot suit for enterprises, providing plug-n-play solution for companies to build powerful chatbots that can solve business use cases
- FRS Labs: FRS Labs works on cyber security, fraud detection and identity verification using biometrics and AI
- Click & Pay: Making payments transactions cashless, secure and flexible, Click & Pay provides users an easy payment options
- Authme: AuthMe is using AI to replace passwords with unique pattern technology and bring UX and security together
Anytime Loan: An alternate lending platform, offering consumer loans and MSME business loans using AI, Data Science, Robotics & Predictive Science tools to create Alternative Scoring and KYC models