Yes Bank has collaborated with the Reserve Bank Innovation Hub (RBIH) and the S.P. Jain Institute of Management and Research (SPJIMR) to introduce the ‘Frictionless Finance Accelerator Programme’. The initiative aims to support fintech startups in developing scalable solutions to address challenges in the financial sector and improve financial inclusion in India, said a statement.
As part of the programme, the participating startups will receive resources and guidance on technologies such as digital lending, artificial intelligence-driven risk management, blockchain-based payments, and financial inclusion. According to the bank, the accelerator is intended to encourage innovation, assist startups in navigating regulatory frameworks, and refine their business models.
“India has emerged as the third-largest startup ecosystem globally, and fintech startups are leading the way,” said Yes Bank managing director and CEO Prashant Kumar, adding that the bank is “committed to initiatives like the Frictionless Finance Accelerator to help address practical challenges and support the development of impactful solutions.”
The accelerator programme combines expertise from RBIH, academic resources from SPJIMR, and industry insights from Yes Bank. The bank has previously worked with fintech startups through initiatives such as Yes HeadStartup and platforms like IRIS Biz and Yes Connect, aimed at simplifying operations and encouraging growth.
Its collaboration with Vegapay to launch a credit line on UPI and its partnership with SPJIMR’s Wise Tech School of Innovation are part of efforts to provide mentorship, funding access, and other resources to emerging companies.
Dr. Varun Nagaraj, Dean of SPJIMR, said: “At SPJIMR, we emphasise initiatives that combine technology with inclusivity and ethics. This partnership will help startups tackle critical challenges, redefine financial accessibility, and contribute to India’s growth,” he said.
“Our mission of enabling frictionless finance for a billion Indians is rooted in fostering innovation and entrepreneurship. This programme will empower startups to develop solutions that will help shape the future of India’s financial sector,” Rajesh Bansal, CEO of RBIH, said.
India’s fintech sector is a significant part of the country’s startup ecosystem, which includes over 1.5 lakh registered startups and more than 100 unicorns, according to the Department for Promotion of Industry and Internal Trade (DPIIT).
With global venture capital investments reaching $314 billion in 2024 and the digital economy projected to exceed $20 trillion by 2030, fintech startups are expected to make a substantial contribution to the sector’s growth.
