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YES BANK Launches Frictionless Finance Accelerator Programme on National Startup Day

YES BANK building

On National Startup Day, YES BANK, in collaboration with the Reserve Bank Innovation Hub (RBIH) and S.P. Jain Institute of Management and Research (SPJIMR), launched the Frictionless Finance Accelerator Programme. This initiative aims to empower fintech startups to overcome challenges, scale innovations, and drive financial inclusion in India.

India’s startup ecosystem is flourishing, with over 1.5 lakh Department for Promotion of Industry and Internal Trade (DPIIT)-registered startups and more than 100 unicorns. Fintech is at the forefront, redefining access to financial services and supporting small businesses. The Frictionless Finance Accelerator reinforces YES BANK’s commitment to fostering innovation and collaboration in this dynamic sector.

The accelerator provides startups access to RBIH’s expertise, SPJIMR’s academic resources, and YES BANK’s industry knowledge. It focuses on emerging technologies like digital lending, AI-powered risk management, blockchain-based payments, and financial inclusion. Startups will also receive regulatory guidance through platforms such as YES Connect, enabling them to optimize their business models and leverage digital infrastructure effectively.

Prashant Kumar, Managing Director & CEO, YES BANK, remarked, “India has emerged as the third-largest startup ecosystem globally, and fintech startups are at the forefront of this transformation. The future is interconnected, powered by technologies that once seemed impossible. At YES BANK, we are committed to supporting this growth through initiatives like the Frictionless Finance Accelerator, which helps startups address real-world challenges and build scalable solutions.”

Dr. Varun Nagaraj, Dean, SPJIMR, added, “At SPJIMR, through our WISE Tech initiative, we champion responsible innovation that blends cutting-edge technology with inclusivity and ethics. This partnership will enable startups to address challenges, redefine financial accessibility, and contribute to India’s growth. Together, we are shaping a seamless and secure financial culture.”

Rajesh Bansal, CEO, RBIH, shared his vision, saying, “Our mission of enabling ‘Frictionless Finance for a Billion Indians’ is deeply rooted in fostering innovation and entrepreneurship. This accelerator programme empowers entrepreneurs to create pathways for transformative growth that will shape the future of India’s financial ecosystem.”

YES BANK has consistently championed innovation through initiatives like YES HeadStartup and digital platforms like IRIS Biz and SmartFin. Its collaboration with Vegapay to launch Credit Line on UPI and its partnership with SPJIMR’s Wise Tech School of Innovation underline its commitment to co-creating impactful financial solutions.

As global venture capital investment reaches $314 billion in 2024 and the global digital economy accelerates towards $20 trillion by 2030, fintech startups hold the potential to redefine finance. The Frictionless Finance Accelerator embodies the transformative power of partnerships and innovation in driving India’s fintech revolution.

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