A successful partnership between banks and FinTech is contingent upon various factors. A deep synergy between both parties can be established only by a partner that has deep technical and domain knowledge in the banking space and understands banks’ requirements.
Finacle, the industry-leading banking solution has developed one such partnership program- Finacle FinTech Connect. The program is a unique opportunity for FinTechs to engage with Finacle’s extensive ecosystem spanning across 94 countries and touching the financial lives of 848 million consumers globally. Through this program, Finacle invites FinTech startups to integrate their solutions into Finacle’s banking solution suite. The LTP Team is a proud knowledge partner of the initiative and invites talented entrepreneurs to apply for the program.
As a founder, the first questions that will be hovering in your mind will be “What is the Finacle FinTech Connect?” and “How can it help my FinTech to scale up?” Finacle FinTech Connect provides a unique opportunity for FinTech firms to partner with Finacle, the industry-leading banking solution suite.
The program will help FinTech firms and banks to leverage each other’s unique strengths to accelerate banking innovation. Selected startups can co-innovate with Finacle R&D teams and leverage Finacle’s expertise to develop joint offerings with unique value propositions. Finacle will offer joint-go-market opportunities for the FinTechs across Finacle’s clientele that today spans 94 countries. FinTech startups will also get to showcase their solution at the Finacle App Centre. This marketplace is exclusively designed to put the spotlight on the innovations ushered in by the Finacle partner ecosystem.
The last chapter of the program was a huge success and ultimately five FinTech startups were onboarded in 2017:Niki.ai, Active.ai, ToneTag, Moneythor & Artoo. These startups are currently working with Finacle on conversational banking interfaces, sound-based payments, digital banking and digital lending.
“In terms of our experience with the program, we get a chance to work with a highly professional and global team. The program kickstarted for us in San Francisco at a large global event. It then curated talks with various geographical heads of Finacle and various banks in those geographies. So in a sense, it is truly a global program and very meaningful for FinTech startups with global aspirations,” shared Kumar Abhishek, Founder of ToneTag.
The process & requirements
With a successful cohort in the first chapter, Finacle is now accepting applications from FinTech startups for this program. Applications will go through three rounds of assessment. The judging panel will consist of Finacle representatives and executives from leading banks globally. Here are the eligibility criteria for startups that can apply before the deadline September 30, 2017:
- Startups must have a working demo of the solution and at least one live banking client.
The solution should be in one of the following areas:
Startups can register for the program here.
Finacle FinTech Connect offers a unique opportunity for startups to co-innovate and take their startup to the next level. As an established global knowledge network for collaborative innovation in the FinTech industry, and a recognized thought leader, the LTP Team strongly encourages FinTech startups to take part in a truly collaborative global program that offers an unprecedented platform for beneficial partnerships on a truly grand scale.