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  1. Axis Bank’s Thought Factory aids start-ups to expand

Axis Bank’s Thought Factory aids start-ups to expand

Private sector bank Axis Bank today said it has completed the first cohort of its start-up Accelerator Program at its innovation lab 'Thought Factory' here.

By: | Bengaluru | Published: July 21, 2017 6:23 PM
startup funds, axis bank startups, axis bank funds startup, axis bank technology startups, axis bank thought factory, axis bank visa, S2Pay, Pally, Perpule, FintechLabs, Paymatrix, Gieom Private sector bank Axis Bank today said it has completed the first cohort of its start-up Accelerator Program at its innovation lab ‘Thought Factory’ here.(PTI)

Private sector bank Axis Bank today said it has completed the first cohort of its start-up Accelerator Program at its innovation lab ‘Thought Factory’ here. Claiming to be the first Indian bank to launch such an  innovation platform, it said it has successfully mentored six  start-ups – S2Pay, Pally, Perpule, FintechLabs, Paymatrix and  Gieom(details in Annexure I) to create breakthrough technology solutions to disrupt the banking-tech landscape. Over the past year, Thought Factory has been a major  FinTech ecosystem enabler in Bengaluru, hosting multiple  events, workshops, international visitors and other corporate  clients, thereby enhancing industry-start-up collaboration,  the bank said in a release. It said Thought Factory team has collaborated with OCBC Bank & Visa Innovation Lab, Singapore and AWS, India for co-innovating. A Tech Advisory Board comprising Sharad Sharma (iSpirit), Manish Chokhani (Enam), Vishal Gondal (Founder, GoQii) and Shankar Narayan (Singapore based serial entrepreneur) along with Axis Bank Senior Management form the ThinkTank for  Thought Factory, it added.

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“We are proud to be the springboard for breakthrough  ideas that can disrupt the banking landscape. Besides the  Accelerator start-ups, the Bank, along with the Thought  Factory team, has been working with other upcoming start-ups  too,” Axis Bank Executive Director Rajiv Anand said. Pointing out it had selected these six start-ups from a  pool of 108 applicants, Axis Bank said they represent each of  the emerging sectors touted to be game changers in the  fin-tech space viz. Payments, Investments, Lending Analytics  and Credit in rental space. The aim behind the program was to accelerate the overall growth of these emerging start-ups along with  exploring novel banking ideas with them, it added.

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