The fintech accelerator will provide the selected startups with access to the bank’s technology, insight and expertise via onsite mentors and advisors. It will also enable them to access the international markets.
“Rise Accelerator gives selected startups and Barclays colleagues the opportunity to work with each other on identifying innovative solutions to real problem statements,” Himanshu Warudkar, Director- head of client facing technology, investment banking technology India and program director, Rise Mumbai said.
The 10 shortlisted startups included 4 from Bangalore, 2 each from Mumbai and Delhi and 1 each from Chennai and Hyderabad. The startups focussed on a host of areas like Artificial Intelligence, Data Integration, Predictive Lending etc to solve real time problems associated with the banking and financial sectors.
“Unlike sectors like pharmaceuticals and manufacturing, financial services have been lagging behind in terms of money spent on innovation. Through Rise Accelerators, we hope to create a community on three pillars – Connect, Co-create and Scale,” said , Ram Gopal Chief Operating Officer, Barclays India.
The London headquartered lender is also planning to support these nascent financial technology companies as an early stage investment which can reap them big returns if they go on to make it big in the emerging fintech space both in India as well as globally.
Source: The Economic Times