30 Jun. 16, BENGALURU: Private sector lender Axis Bank, launched an innovation lab facility in Bengaluru for start-ups that is looking to strengthen the development of unique technology solutions in the banking industry.
This is second start-up accelerator programme by the bank, with the first one already being operated in Mumbai. The lab, which is housed in Bengaluru, is expected to start in July and has rented 10000 sq. ft. area which will consist of in-house innovation team and an accelerator program to work closely with several financial technology start-up firms.
According to sources and reports by TOI, retail banking executive director – Rajiv Anand, said, “We are working with six to seven start-ups at this stage in Mumbai and the maximum we can accommodate is 10. There is a company in the ad tech space that is helping us build better ads for mobile, payments space, optimising sales outlook.”
“Our aim is to build disruptive business models and remove operational inefficiency,” he further added, as per TOI reports.
The bank has tied-up with Zone start-ups to run the accelerator program, and at the end of the program, they would organize an investor dad to assisted short-listed companies for raising capital.
Image: Financial Express