Today, HDFC Bank Accelerator Engagement Programme (AEP) goes live under the bank’s Centre of Digital Excellence (CODE).

To launch this programme, HDFC Bank partnered with startup accelerators from across the world. Furthermore, to boost the growth of the HDFC Bank Accelerator Engagement Programme, the bank will look to fintechs to gain early access to different ideas and solutions.

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Moreover, the main focus will centre around developments in AI, machine learning  and robotic process automation.

HDFC Bank Accelerator Engagement Programme first phase

In the first phase, the bank launched the programme in association with the UK’s Department for International Trade (UK DIT) and start-up accelerators such as
91SpringBoard and IvyCamp.

By harnessing the AEP, HDFC Bank will now have access to emerging technologies and platforms. Furthermore, this enables the bank to choose different solutions that suit its needs far quicker.

In addition to working with the bank, fintechs can trial their solutions and if successful, collaborate further.

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The HDFC Accelerator Engagement Programme was launched in Mumbai by country head of digital banking at HDFC Bank, Nitin Chugh.

He commented:

“It’s exciting to take our engagements with fintech start-ups global with the Accelerator Engagement Programme. At HDFC Bank, we are looking for disruptive, global first innovations. This enables us to be in sync with our customers’ needs and desires and become part of their lifestyle.

“We believe that to tap into this vast pool of innovative ideas, we need to work as a partner in the digital eco-system and encourage the spirit of innovation in the country. This is a win-win for all of us.”

Charles Bowman, Lord Mayor of London, said:

“I am delighted to help launch this powerful new initiative and even happier that the delegation I’ve brought to India is the first to benefit from it. Fintech is an area of immense potential for the UK and India. Furthermore, I look forward to seeing more collaboration between our two countries in this area.”

In addition, the objective of the HDFC Bank Accelerator Engagement Programme is to create a mutually beneficial ecosystem with suitable players in the fintech space.