Co-Lab Overview
The Account Aggregator Co-Lab, an initiative by WestBridge Capital and Finvu, aims to foster innovation and growth within the fintech ecosystem by leveraging the Account Aggregator (AA) framework. In this program, we are looking to identify and support fintech startups developing or planning to build new products and solutions or augment their existing products with AA capabilities.
During GFF, Participants will get an opportunity to pitch their ideas/ solutions to a panel of digital leaders from top financial services companies across lending/ insurance/ wealth management like IndiaShelter, Star Health, Aptus, FundsIndia etc. Few selected startups who are still in the ideation/ development phase will get support from Finvu post GFF in the form of domain expertise/ best practice sharing/ development support, enabling startups to refine their solutions. Startups with existing solutions will get an opportunity to pilot their solutions with the financial services partners.
Timeline
Registrations Open
August 13, 2024
Submission Closes
August 21, 2024
Shortlisted Startups Announcement
August 24, 2024
Demo Day & Winners Announcement at Global Fintech Fest 2024
August 28, 2024
Key Focus Areas
Faster Underwriting of Customers
Use the rich data available through AA framework to empower lenders/ insurers take faster and more precise underwriting decisions.
Continuous Risk Monitoring
Enable Financial Services companies to monitor and proactively act on key risks such as loan defaults, premium renewals etc.
Fraud Prevention
Help companies identify and prevent fraudulent transaction patterns and customer behaviors.
Data Governance
Help companies Implement Consent Management for personal data protection and comply with the DPDP norms.
Personal Finance Management (PFM)
Provide an integrated view of financial assets of an end-user and provide recommendations for portfolio management etc.
Rewards and benefits
The winner may be considered by SBI for suitable associations in some of its projects/committees/Working Groups etc.
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Winner
Team Name: FinAGG Technologies Private Limited
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Winner
Team Name: Finalyca Technologies Private Limited
About The Partners
WestBridge Capital is an experienced investment firm committed to supporting Indian entrepreneurs with purpose-driven capital since 2000. With over $8 billion under management, WestBridge has led 160+ investments, focusing extensively on financial services. Their portfolio includes market leaders like CIBIL, Experian, Bajaj Finance, and Star Health Insurance, and more.
Finvu (Cookiejar Technologies Pvt Ltd), a portfolio company of WestBridge Capital, is certified as an NBFC Account Aggregator (NBFC-AA) by the RBI. With 50+ years of collective experience in banking technology, Finvu specializes in securely aggregating and presenting financial data. The company collaborates with leading banks, NBFCs, and wealth managers as early adopters of the Account Aggregator ecosystem.
Terms and Conditions- Event Registration: Participant acknowledges and agrees that registration for the Event is mandatory for participation.
- Data Sharing: Participant understands and agrees that the information provided during registration, including but not limited to name, contact details, and startup details, may be shared between the organizing entities ("Organizers") of the Event for the purpose of curating results and facilitating communication related to the Event.
- Confidentiality: Participant acknowledges and agrees that any confidential information shared during the Event, including but not limited to intellectual property and business strategies, should be treated as confidential and shall not be disclosed to third parties without prior written consent.
- Liability: Participant acknowledges and agrees that neither the Organizers nor any affiliated entities shall be liable for any damages, losses, or injuries arising from participation in the Event.
- Intellectual Property: Participant retains all intellectual property rights to their startup and any materials presented during the Event.
- Indemnification: Participant agrees to indemnify and hold harmless the Organizers from any claims, damages, or liabilities arising from Participant's participation in the Event.
- Governing Law: These terms and conditions shall be governed by and construed in accordance with the laws of [Jurisdiction], without regard to its conflict of law principles.
- Modification: The Organizers reserve the right to modify or amend these terms and conditions at any time without prior notice. Participant's continued participation in the Event after any such modifications shall constitute acceptance of the modified terms.
