Private lender HDFC Bank has partnered with the United Kingdom’s Department for International Trade (UK DIT) and start-up accelerators 91SpringBoard and IvyCamp to launch first-of-its-kind Accelerator Engagement Programme (AEP).
The programme is launched under the bank’s Centre of Digital Excellence (CODE) to get quicker access to potential fintech ideas and innovative solutions in the area of Artificial Intelligence (AI), Machine Learning (ML), analytics, and robotic process automation etc.
The Programme was unveiled in Mumbai by Nitin Chugh, Country Head – Digital Banking, HDFC Bank in the August presence of Ben Green, First Secretary, Trade, DIT; Lord Mayor of the City of London, Alderman Charles Bowman; Mithun Shetty, Head of Community Building at 91SpringBoard; and Vikram Gupta, Founder and Managing Partner, IvyCamp.
“We are excited to take our engagements with fintech start-ups global with the Accelerator Engagement Programme. At HDFC Bank, we are looking for disruptive, global first innovations. This enables us to be in sync with our customers’ needs and desires and become part of their lifestyle. We believe that to tap into this vast pool of innovative ideas, we need to work as a partner in the digital eco-system and encourage the spirit of innovation in the country. This is a win-win for all of us,” said Nitin Chugh, Country Head – Digital Banking, HDFC Bank.
“I am delighted to help launch this powerful new initiative and even happier that the delegation I’ve brought to India is the first to benefit from it. Fintech is an area of immense potential for the UK and India, and I look forward to seeing more collaboration between our two countries in this area,” said Lord Mayor of London, Charles Bowman.
While 91 SpringBoard engages with more than 25,000 start-ups and fintechs globally as partners and facilitators, IvyCamp is dealing with over 5,000 start-ups and fintechs across the world.
The Accelerator Engagement Programme is part of the lender’s CODE, which emphasises on creating a mutually beneficial ecosystem with relevant players in the start-up and fintech space not only in India but on the global front as well. The bank also runs initiatives such as Digital Command Centre and ‘Industry Academia’ under CODE.