In an effort to promote fintech innovation and financial inclusion in India, YES BANK announced the Frictionless Finance Accelerator Program on National Startup Day in partnership with the Reserve Bank Innovation Hub (RBIH) and S.P. Jain Institute of Management and Research (SPJIMR).
By tackling important issues, expanding innovations, and expanding the availability of financial services, the program aims to support fintech firms. YES BANK hopes to create a cooperative ecosystem that promotes new financial sector solutions via this accelerator.
The managing director and CEO of YES BANK, Prashant Kumar, claims that India is quickly becoming the world’s third-largest startup environment. Fintech entrepreneurs are at the forefront of this change, and at YES BANK, we’re dedicated to supporting their expansion through initiatives like the Frictionless Finance Accelerator, which helps startups develop scalable solutions and solve real-world issues.
The participating startups will receive numerous benefits from the experience of RBIH, the academic resources of SPJIMR, and the industry knowledge of YES BANK. Technology-driven solutions, such as blockchain payments, AI-powered risk management, digital lending, and expanding financial inclusion, will be prioritized.
Fintechs, regulators, and business executives will form this cooperative ecosystem, which aims to develop and innovate in the financial sector. It will provide businesses with advice on business model optimization and regulatory issues via platforms such as YES Connect.
With several programs like HeadStartup, YES Connect, and digital platforms like IRIS Biz and SmartFin, YES BANK has long supported startups. Its recent partnership with Vegapay for the new Credit Line on UPI demonstrates its dedication to offering developing businesses tailored solutions.
“This partnership will enable startups to rethink how they access capital and make a positive impact on India’s economic development,” stated Dr. Varun Nagaraj, Dean of SPJIMR.
Rajesh Bansal, CEO of RBIH, stated, “The accelerator program is a testament to our commitment to empowering entrepreneurs and shaping India’s future financial ecosystem” .
With an emphasis on digital solutions and customer-centric growth, YES BANK keeps innovating in the corporate, MSME, and retail sectors.
