To solve the challenges faces by Banking, financial services and insurance (BFSI) industry today, the Microsoft in collaboration with GA Partners, has provided a launchpad for enterprise software startups to address and showcase their solutions.
The curated startup event for Indian banks and non-banking financial companies (NBFCs), saw 10 innovative startups who are at the forefront of India’s FinTech landscape and have demonstrated their ability to achieve an enterprise scale.
Microsoft is enabling startups to identify the risks, challenges and opportunities in the BFSI landscape and helping them to device a framework to assess the readiness of a startup to work with a large enterprise.
Although startups have been gaining substantial visibility, their growth is often stifled due to increased competition and development of new-gen technologies. The Niti Aayog, expects the FinTech market in India to touch $31 billion by 2020 and there is a significant rise in the number of FinTech startups which are working towards developing innovative solutions for the industry.
The FinTech industry is also seeing the growing trend of unicorn startups – valuing more than $1 billion. Microsoft enables such startups to equip themselves with the required technologies, develop and showcase their solutions and expand their customer base.
Lathika Pai, Country Head, Microsoft for Startups, MENA & SAARC said, “India today has the third largest number of start-ups which are really robust and addresses issues in every business segment. So, our focus is where can we help the most, how do we work with them to help increase revenues through our Co-Sell motion where Microsoft’s account managers will plug them into our enterprise clients, geographical reach, management mentorship and more. To do that we offer B2B startups access to co-marketing and co-selling opportunities, deep technical architecture guidance and business mentoring through our Scale Up program.”
“We are thrilled to be collaborating with Microsoft to help startups scale. GA Partners have been supporting startups with customer acquisition, tie up with relevant partners, and assisting in sales strategy and implementing them with our deep knowledge from the industry. We are happy to be providing a platform for startups to showcase their capabilities in terms of their solutions, apart from presenting their examples on addressing the challenges of BFSI sector”, said Kannan Ramaswamy, Founder & Managing Partner, GA Partners.
During the event, “Building a win-win ecosystem for Startups and BFSI Enterprises” held in collaboration with GA Partners, Lathika Pai highlighted the company’s contribution to advancing opportunities for the startups to connect with industry leaders to effectively develop and build their solutions.
The startups that addressed the challenges in the Indian the banking industry and offered their solutions are:
FinBox
A comprehensive machine learning platform with proprietary data connectors. Businesses use FinBox for credit scoring, cross-selling, risk management and to build data driven FinTech experiences.
JusPay
Digital Payments Service enabling secure & frictionless payment experiences. Payment Service provider (PSP) neutral and PCIL1 compliant wrapper-layer that enables clients to scale their online payments and enable ALL payment options.
Worxogo
A pioneering enterprise start-up that offers an AI coach to employees for improved performance, business impact. Artificial Intelligence the engine uses neuroeconomics, AI predictive analytics to act as a personal digital coach to improve performance of employees in companies, by using the power of Nudges which deliver personalized, predictive performance at scale.
Growth Enabler
Provides intelligence on tech innovation and disruptive business models to help technology leaders resolve business challenges. AI is used to connect startups and companies, enables informed decision-making.
Semusi (AppICE)
A machine learning based mobile marketing automation platform helping businesses build trustworthy relationships with their customers.
VuNet Systems
A unified AI platform that truly connects your user experience, customer journeys, business transactions to your applications, infrastructure, and IT Operations.
FORMCEPT
Its flagship product, MECBot, enables enterprises to perform smart data discovery, auto-recognition of patterns, free-form search & configure ML, DL & Graph-based algorithms that can scale dynamically & utilize hardware efficiently.
StatAnalytics
Credit Nirvana is an intelligent Debt Collection platform that leverages ML/AI. It offers a real-time Collection Decision Engine for a focused and prioritized collection process, along with personalized digital follow-ups and messaging.
DheeYantra Research Labs
DHEE.AI is a cognitive conversational AI platform from DheeYantra, capable of understanding and communicating between human-machine, in English and Indian vernacular languages.
EPIKInDiFi
EPIK, a technology the company started by Industry experts with an objective to build and provide products and platforms, services and solutions which will help the banks & financial institutions in improving their customer engagement, gaining operational efficiency, reducing implementation costs and achieve delivery certainty.
