New Delhi: YES Bank, in collaboration with the Reserve Bank Innovation Hub (RBIH) and the S.P. Jain Institute of Management and Research (SPJIMR), has introduced the Frictionless Finance Accelerator Programme. Launched on National Startup Day, the initiative aims to provide fintech startups with tools to overcome challenges, scale innovations, and promote financial inclusion in India.
A Push for Fintech Startups
India’s startup ecosystem, with over 1.5 lakh registered startups and 100+ unicorns, is witnessing rapid growth. Fintech startups, a major contributor to this expansion, are transforming access to financial services. The Frictionless Finance Accelerator focuses on enabling startups to create scalable solutions in key areas, including digital lending, AI-based risk management, blockchain payments, and financial inclusion.
Key Features of the Programme
Expert Support: Startups will gain access to RBIH’s expertise, SPJIMR’s academic resources, and YES Bank’s industry insights.
Regulatory Guidance: Tools such as the YES Connect platform will assist startups in navigating regulatory frameworks and optimizing business strategies.
Collaboration Opportunities: The programme fosters partnerships between fintech startups, industry leaders, and regulators.
A Broader Innovation Framework
YES Bank has been actively supporting fintech startups through initiatives like YES HeadStartup and collaborations such as its recent partnership with Vegapay for UPI-linked credit solutions. The bank’s continued focus on co-creating financial solutions is reflected in this accelerator programme.
Industry Leaders on the Initiative
Prashant Kumar, MD & CEO of YES Bank, emphasized the importance of innovation in driving India’s financial ecosystem forward. SPJIMR Dean Dr. Varun Nagaraj and RBIH CEO Rajesh Bansal highlighted the collaborative approach of the accelerator, focusing on mentorship, responsible innovation, and the vision of enabling “frictionless finance” for all.
Fintech’s Role in India’s Growth
With global venture capital investments surging in 2024 and the digital economy poised for exponential growth, the Frictionless Finance Accelerator represents an effort to position fintech startups as key drivers of India’s financial and economic transformation.