YES BANK, India’s fifth-largest private sector bank, has been a pioneer of several key technology innovations since its inception in 2004. YES BANK continues to be at the forefront of technology innovation and endeavors to continue its focus on delivering world-class banking services to its institutional and retail clients through best-in-class technology and collaborative support from all parts of the FinTech ecosystem.
YES BANK has been collaborating with and supporting more than 100 FinTech startups in the country to provide innovative financial solutions to its corporate, SME and retail customer base. It has adopted a unique approach, simply called Alliances, Relationships & Technology (ART), to digitized banking to deepen mindshare and grow market share among its consumer base.
In today's dynamic and ever-changing financial landscape, YES BANK realizes that all Innovation cannot come from within the bank. In that context, it has established a FinTech-focused business accelerator program – YES FINTECH Accelerator (YFA), which will provide a fillip to the ART model by creating a platform for the bank and FinTech startups to interact besides partnering to create innovative solutions for financial services industry, globally.
YES BANK along with Let’s Talk Payments (LTP) and PricewaterhouseCoopers India (PwC) is coming up with the applications for the Autumn Cohort starting from September 15, 2017. YFA gives startups an unencumbered opportunity to innovate with the bank and leverage access to VCs, technology, and 20+ global markets through ecosystem partners.
YFA is a platform for YES BANK and FinTech startups to co-create innovative solutions for the bank's 2.5 million+ retail and 10,000+ corporate clients offer a wide base for startups to tap into through a co-creation and joint go-to-market strategy. Startups stand to get access to funding of USD 1 million+ without any upfront equity commitment.
Summer cohort overview
YES FINTECH’s first cohort was launched on March 20, 2017. The Summer Cohort had 10 startups selected) from a pool of 753 applicants from 18 countries. The program ended with an off-take of 90% wherein 9 out of the 10 solutions were taken up by the bank. This speaks volumes of the first cohort start-ups and the mentorship provided by YFA over the 15-week period. The cohort startups raised USD 4 million+ post cohort completion. Also, the cohort witnessed two global startups, Paykey & SoCash, successfully entering the India Market.
Key focus areas
YFA’s Autumn Cohort is focused on nine themes and various sub-themes under each category:
- Digital Payments
- Real-Time Reporting
- Big Data & Analytics
- Process Automation
- Smart Decisioning
- Digital Banking
- WealthTech and InvesTech
What’s in it for startups?
Startups get access to YES BANK's network ecosystem as well as the organization's resources to scale up.
Don’t miss out on this exciting opportunity. Apply now to the YES FINTECH Accelerator. Applications close on October 7, 2017.
"The best way to predict the future is to create it."
- Abraham Lincoln