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HDFC Bank to tie-up with fintech startups

HDFC Bank says it is proposing to tie up with several fintech startups that have been pursuing innovative ideas in realms such as payments, security and analytics. The bank expects that the tie-ups can facilitate rolling out of pilot projects within weeks. The bank is also holding a digital innovation summit to take its ‘Go Digital’ strategy’ forward. Some 30 startups have been shortlisted from 105 firms invited to partner the bank. The bank will further shortlist from this 30, based on uniqueness and innovation. Nitin Chugh, country head – Digital Banking of the bank, said there were successes from earlier partnerships such as the one with Chillr for peer-to-peer payments and Zumigo for location-based fraud control. The Digital Summit is a first-of-its-kind event in the BFSI space in the country and the selection of the winners will be done by a jury.

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