APIX and SBI launches innovation hub for startups

It aims to drive financial innovation and digital transformation.

Innovation platform for financial institutions and fintechs APIX and State Bank of India (SBI) have introduced the SBI Innovation Hub—a space for fintechs, startups, and innovators to design financial solutions tailored to SBI customers’ digital needs.

The initiative aims to drive financial innovation and digital transformation as well as advance financial inclusion.

It will allow participants to leverage SBI’s 250 financial service application programming interfaces (APIs) to develop and customise solutions within a secure Sandbox environment. Through structured challenges, hackathons, and partnership opportunities, the platform will also provide pathways to gain recognition, compete for official partnerships, and reach millions of users across India.

“The platform’s capability for mutual discovery of APIs will enable the bank and group companies to collaborate with innovators to create solutions that are innovative, impactful, and highly customer-centric,” said Vidya Krishnan, deputy managing director for information technology at SBI.

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