Axis Bank Selected Three Startups to Deploy Their Solutions in Its Business Operations – ZMR Blog
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Axis Bank Selected Three Startups to Deploy Their Solutions in Its Business Operations

Axis Bank Selected Three Startups to Deploy Their Solutions in Its Business Operations

Financial institutions and banking sectors are running on the technologically backed system and adopting some smart future-based solution to deliver a hassle-free experience to its customers. Banking and finance institutions facilities and their services deal with lots of money, may it be in offline or online mode. Security has been a critical concern for the lending businesses.

One of the top ranking private sector lenders Axis Bank runs an accelerator program ‘Thought Factory’ out of which it has shortlisted three fintech startups from the very first batch. The startup’s solution will be deployed at its various business units.

From the first batch, 6 start-ups graduated comprising Paymatrix, Pally, Gieom, Perpule, S2Pay, and Fintech Labs based on their tech solutions. The shortlisted startups include Fintech Labs providing lending management solutions, Pally is an AI-based chatbot that can be applied for investment advisory purpose, and Gieom offering a cloud-based solution for operation management.

Executive director, Axis Bank, Rajiv Anand said, “We will introduce these solutions in the form of the pilot before releasing them to our customers. Axis Bank isn’t involved in any stake proposal with the startups, neither is interested in investing. The solutions will be procured through a commercial agreement.”

Let’s take a glimpse of the six startups that have successfully graduated.

Axis Bank

S2Pay

The startup basically facilitates offline mobile payments. S2Pay’s solution structures a layer on any payments application and users can easily make payments through the mobile app even in offline mode.

Pally

Pally facilitates the businesses in the financial sector to offer superior customer experiences. The startup has developed a ChatBot that makes an automated investment portfolio required for tax savings. The user just has to upload the image of salary slip.

Perpule

This company bagged an angel round funding of $650, 000 from Venture Highway, Kstart Capital, co-founder of TaxiForSure, Raghunandan G. Perpulle has developed an app that enables the user to scan the product through mobile and instantly pay via app once the list is completed. The startup is funded by Kalaari Capital.

FintechLabs

It is a lending management platform that provides different analytical models, which can be utilized in the online transaction. The startup delivers various solutions such as bank statement analyzer, loan management software, ID proof verification software, and peer-to-peer lending marketplace software.

Paymatrix

It is a platform that simplifies the rent collection process generated through various payment modes. It also provides tenant screening services and customized rental agreements.

Gieom

The startup delivers cloud-based analytics and solutions to help large-scale firms to manage and administer their operations, risk and compliance, employee productivity, and change management. It also offers a smooth shift between the operations and new IT systems.

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