B2B Payments

Yes Bank Accelerator Eyes B2B FinTech In Newest Accelerator Program

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Yes Bank has chosen 12 startups to partake in its accelerator program, and among them are several B2B FinTech players.

The India bank’s program, launched in partnership with T-Hub, announced the 12 participants Friday (March 17). The companies were selected from 753 applicants across 18 countries, according to reports.

Among them is Signzy, which uses artificial intelligence and cryptography to enable banks to streamline KYC onboarding via an API, and provides FIs with digital contracts compliant via risk intelligence and biometrics technology.

R1mo was also chosen, a B2B foreign exchange marketplace that deploys blockchain technology to connect into existing cross-border payment ecosystems.

Numberz, also selected, is an SME cash flow management startup, as is Anytime Loan, an alternative lender linking consumers and SMEs to financing via AI and robotics.

There were also a few enterprise security startups. Morph.Ai provides businesses with plug-and-play tools to develop their own chatbots that can solve their unique business challenges.

FRS Labs also works in the cybersecurity space, deploying biometrics and artificial intelligence to enable fraud detection, while Authme similarly uses AI to enable businesses to manage their apps, allowing the enterprise to replace passwords with a more secure technology.

According to reports, along with T-Hub, the Yes Bank Business Accelerator Program is collaborating with startup advisory firm Anthill and FinTech platform Let’s Talk Payments. The 12 businesses will go through a 15-week program of support in India.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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