Indian private sector lender Yes Bank has joined forces with software product think-tank organisation iSPIRT to introduce a fintech app store.
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The app store will support Indian start-ups in the fintech sector with a governance structure that can be accessed easily by any startup.
iSPIRT is set to mentor fintech start-ups, while Yes Bank will deliver products and payment gateways to support on-boarded start-ups to start operations easily.
Yes Bank senior president and country head, digital banking Ritesh Pai said: "Yes Bank has always been at the forefront of innovation through its products and services by offering convenient banking solutions. This will help in transforming India into a hub for new generation software products."
iSPIRT co-founder and governing council member Sharad Sharma said: "All the building blocks that are needed to make service delivery presence-less, paperless and cashless are now in place.
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By GlobalData"This is going to unleash a wave of innovation across many sectors in India. Yes Bank sees this as an opportunity. Early movers like Yes Bank will shape the new era of banking in India."
