HDFC Bank announced Thursday the five winners of its Digital Innovation Summit, which saw over a 100 entries from startups in the BFSI (Banking, Financial Services, and Insurance) sector, out of which 30 were shortlisted by the jury panel.
The five winners were Bengaluru-based Senseforth Technologies, which uses AI to power a customer response system; Gurgaon-based NotifyVisitors, which provides an online tool to create and show notifications; Indore-based biometric payments startup Tapits Technologies, and two Mumbai-based startups, mobile bug reporting tool provider Bugclipper, and Net Vigil Software, which provides QR code based mobile payments.
The five startups will get a chance to deploy their products in the bank, post further evaluation on technical, business, security, and compliance parameters, HDFC Bank said in a press release.
The Digital Innovation Summit received more than 100 entries from companies from all over India, the company said. Out of these, 30 were shortlisted to make presentations to a jury panel comprising of senior management from digital banking, branch banking, marketing, IT, e-commerce and cards.
"We are not just encouraging but also embracing disruptive innovation in the FinTech space in the country. [...] For startups, it's an opportunity to deploy their products and services at such a large scale," said Mr. Nitin Chugh, Country Head, Digital Banking, HDFC Bank.
The shortlisted companies presented their ideas to the jury a week ago in Mumbai and were evaluated on uniqueness and innovation, business potential, usability and scalability, and compatibility with HDFC Bank's business and technology platforms, the company said.