PwC’s FinTech Insights May 2018

Yes FinTech Demo Day on 11 May 2018

Yes Bank, one of India’s leading retail banks, hosted a demo day on 11 May 2018 for start-ups chosen as part of the autumn cohort of the Yes FinTech accelerator programme. Yes FinTech is a platform for Yes Bank and FinTech start-ups to co-create innovative solutions for the bank’s 2 million+ customers and 20 global markets.

Out of the over 450+ global applications, seven start-ups were selected. These start-ups collaborated with Yes Bank over a 16-week period to develop proofs of concepts, addressing a wide range of banking solutions and leveraging emerging technologies. PwC was a strategic programme partner and played a vital role in fostering FinTech innovation at Yes Bank through innovation workshops through the Yes FinTech accelerator programme.

PwC’s Next in Tech report launch on 18 May 2018

The event commenced with the launch of two reports by PwC India leadership which included Arnab Basu, Technology Consulting Leader; Pawan Kumar S, Technology Consulting Leader; Sreedhar Vegesna, Financial Services Advisory Leader; and Vivek Belgavi, India FinTech Leader. The first report discussed the role of technology in influencing key themes in the financial services space such as the next level of customer delight, next generation risk assessment, deeper social impact through financial inclusion, omnipresent banking and the transformation of back office processes through the blockchain and robotic process automation (RPA).

Click here to read the full report.

The second report brought to the table the unique sachet model in the financial services space. With the need to deepen the reach of financial services, there is a huge scope to offer small tenure, short duration and need/context-based financial services across the country.

Click here to read the full report.

This was followed by focused panel discussions involving key decision makers from the industry and PwC leaders. The attendees got insights around themes such as impact of emerging technologies, application programming interface (API) and cloud economy, intelligent automation and digital experience 2.0.

One of the key highlights of the event was the showcasing of innovative solutions through kiosks. PwC teams and their technology partners demonstrated various solutions such as intelligent automation, dronepowered solutions, FinTech cloud-based marketplace, FinTech-led innovation in practice, digital asset management solutions, PwC + Salesforce innovation hub and PwC + SAP innovation hub. The kiosk approach of collaboration was appreciated by the attendees of the event.

Click here to understand more about the solutions and their benefits.