India-based HDFC Bank announced on Monday the launch of its new Accelerator Engagement Program (AEP) under the Bank’s Centre of Digital Excellence (CODE). HDFC Bank reported through the new program, it will partner with leading start-up accelerators from across the globe to gain early access to potential fintech ideas and innovative solutions in the area of artificial intelligence (AI), machine learning (ML), analytics, and robotic process automation.
HDFC Bank also revealed it launched the program in association with the UK’s Department for International Trade (UK DIT) and start-up accelerators 91SpringBoard and IvyCamp. While sharing more details about the program, NitinChugh, Country Head of Digital Banking at HDFC Bank, stated:
“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.”
HDFC Bank went on to add that the Accelerator Engagement Program is part of the Bank’s CODE, which is to create a mutually beneficial ecosystem with relevant players in the start-up and fintech space not just in India but globally. The other initiatives initiated by the Bank under CODE is a Digital Command Centre and ‘Industry Academia.’