07 March 2018, India:
Kotak Mahindra Bank has today announced the launch of a co-creation program for start-ups in association with Nasscom.
“The Kotak Payment Co-creation Programme will build an ecosystem of collaboration and innovation for start-ups and fintechs in the digital payments space. Start-ups, with a compelling idea, seeking mentorship, a chance to work with Kotak’s Innovation Lab as well as an opportunity for a pilot launch, the company said in a statement.
“At Kotak Mahindra Bank, we believe that innovation is a collaborative process. The Kotak Innovation Lab evaluates and works closely with a number of start-ups and fintechs to co-create unique solutions across diverse areas in banking and finance. The Kotak Payment Co-creation Programme is a focused value-driven programme for digital payments,” said Deepak Sharma, Chief Digital Officer, Kotak Mahindra Bank.
Deepak Sharma added, “Through this initiative, mature fintechs with a disruptive idea can pitch their offerings, and get a chance to work with Kotak’s Innovation Lab in co-creating innovative payment products. Such a programme will help further develop a mature ecosystem for fintech-bank partnerships.”
“NASSCOM and Kotak have a shared passion in supporting start-ups and the fintech sector in the country. This collaborative platform is a great opportunity for fintech innovators to showcase their solutions and will help build on our vision to support innovators in the emerging fintech sector. We look forward to working together with Kotak to ensure the continued success of fintechs in India,”said KS Vishwanathan, Vice President-Industry Initiatives, NASSCOM.
Startups have to undergo a rigorous evaluation process to participate in the program. Subsequently, shortlisted fintechs will present their solutions to a team comprising top technology and digital leaders at the bank.
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