HDFC Bank has launched an Accelerator Engagement Programme (AEP), a first-of-its-kind, partnering with leading startup accelerators from across the world. The bank intends to gain early access to over 30,000 fintech ideas and innovative solutions. The bank will focus on these organizations that help early-stage companies develop their product and business model and also connect with investors and work in areas of artificial intelligence, machine learning, analytics and robotic process automation. In the first phase, the bank launched the program in association with the United Kingdom’s Department for International Trade (UK DIT) and startup accelerators 91springboard and IvyCamp. The program was launched in Mumbai by Nitin Chugh, country head – Digital Banking, HDFC Bank in the presence of Ben Green, first secretary, Trade, DIT, Lord Mayor of the City of London Alderman Charles Bowman, Mithun Shetty, head of Community Building at 91springboard and Vikram Gupta, founder and managing partner, IvyCap. Chugh said the program will the bank to be in sync with its customers’ needs and desires and become part of their lifestyle. AEP is part of the bank’s Centre of Digital Excellence, where the objective is to create a mutually beneficial ecosystem with relevant players in the start-up space.
