India-based Bank of Baroda launches fellowship program for fintech startups

Bank of Baroda, an Indian state-owned International banking and financial services company, has announced the launch of a fellowship program in a move to support fintech startups, Banking Technology, reported.

The fellowship program will offer selected founders and CEO’s of startups with an opportunity to gain experience in the banking and financial services sector. The program will also allow them to make use of the Bank of Baroda’s infrastructure in a move to develop and prototype their own business idea.

The bank will select upcoming fintech projects that will ideally be in the digital space and applies artificial intelligence (AI) analytics and blockchain technologies, among other fintech [products, in order to create solutions for SME and retail clients.

With the launch of the fellowship program, the bank will also support rural, agricultural and financial inclusion startups, apart from fintechs. The program applications are open and accepted until 20th March 2017.

In November last year, the Bank of Baroda called fintech startups to solve the challenge of paying blue-collar workers.