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2 Indian startups among 10 selected for Accenture mentorship program



Last updated 23/07/2021

2 Indian startups among 10 selected for Accenture mentorship program

India's Fedo and Knight FinTech are among the 10 fintech organizations that have been chosen for the seventh yearly FinTech Innovation Lab Asia-Pacific, a mentorship program made by Accenture, the organization said on Wednesday. 

The program enables new companies to tweak their marketable strategies and arrangements by blending them with tutors from driving budgetary organizations. 

A Singapore-and India-based fintech Knight FinTech gives an Artificial Intelligence-fueled, programming as-a-administration (SaaS)- based treasury management and credit appraisal stage to enable finance firms to build returns and diminishing danger. 

Its financing cost and credit hazard models examine great much information that focuses to give noteworthy bits of knowledge to depository chiefs or vendors taking a situation on yield bend or assuming a corporate praise hazard presentation. 

Bengaluru-based Fedo's calculation evaluates a person's danger for different infections and his/her inclination to record a case throughout the following hardly any years, in view of a photo, empowering backup plans to installed and endorse clients carefully with practically zero manual intercession.

“We are seeing some fantastic innovation coming out of India’s fintech ecosystem, be it for digital payments, credit and risk management, underwriting or security,” Sonali Kulkarni, Lead-Financial Services, Accenture in India, said in a statement.

“As per an Accenture analysis of data from CB Insights — a global venture-finance data and analytics firm, released in February 2020, fintech investments in India nearly doubled, to $3.7 billion in 2019, making the country the world’s third-largest fintech market.”

The other chose new companies incorporate Fano Labs (Hong Kong), KADA (Australia), Flybits (Canada), SPIN Analytics (United Kingdom), (Israel), and three other Singapore-based new businesses — UVAS, Symbo, and Staple. 

The budgetary innovation business people in the seventh yearly program will get tutoring from Accenture and 19 driving money related to administration firms. 

The current year's program got applications from 162 organizations across in excess of 30 nations, with arrangements identified with the five subjects for the 2020 program: information and investigation; advanced bank arrangements; rising advances; medical coverage biological system; and smart robotization, Accenture said. 

Utilizing Artificial Intelligence (AI), advanced analytics, natural language processing, and different advancements, the 10 chose new businesses have created developments intended to enable budgetary foundations to address an assortment of difficulties, incorporating staying aware of consistence necessities, examining huge volumes of organized and unstructured information, and building more-customized client items and administrations. 

The 2020 Lab officially commences in October and finishes in December, when the members will introduce their answers at a virtual Demo Day to a crowd of people investors and money related industry chiefs.

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