Hyderabad startups win HDFC challenge

These startups will get an opportunity to deploy their innovations within HDFC Bank, after further evaluation on technical, business, security, and compliance parameters

By Author  |  Business Bureau  |  Published: 13th May 2019  9:34 pm
startups
EMERGING TECH: Evaluation has been on technical, business, security and compliance aspects.

Hyderabad: Three startups from Hyderabad, Loop Reality, BluSapphire and Appnovation Technology have emerged as winners HDFC Bank’s regional Digital Innovation Summit (DIS) in the city. WorkApps, a start up from Pune was the fourth winner picked by the bank.

These startups will get an opportunity to deploy their innovations within HDFC Bank, after further evaluation on technical, business, security, and compliance parameters.

The Digital Innovation Summit (DIS) is a platform launched by HDFC Bank for startups from across the world to showcase their innovations. As part of the bank’s efforts to identify potential fintech entrepreneurs from different parts of India, the DIS is being held in various cities across the country. Hyderabad is the second city where the regional DIS has been held. About 75 per cent of the participants are from Hyderabad.

The winner’s innovations have been in the areas of cyber security, augmented and virtual reality (AR/VR), artificial intelligence (AI), machine learning (ML), analytics, and robotic process automation etc. These ideas were evaluated and shortlisted by a jury on the basis of uniqueness, business potential, usability and scalability, and compatibility with HDFC Bank’s business and technology platforms.

“DIS is a marriage of disruptive technologies from start-ups and HDFC Bank’s customer focus,” said Nitin Chugh, country head – Digital Banking, HDFC Bank. “The objective of the Digital Innovation Summit in Hyderabad is to have at its disposal a pool of cutting-edge world technology solutions.”

Madhusudan Hegde, Branch Banking Head, South, HDFC Bank. “It is indeed encouraging to witness entrepreneurs in Hyderabad adopting cyber security, augmented and virtual reality, artificial intelligence, machine learning, and other new-age technologies in a meaningful way.”

Niche startups
Loop Reality- Offers an artificial intelligence-based tool for talent assessment, all by using games and simulations on virtual reality and mobile platforms.

BluSapphire- Has created a cyber defence platform with intelligent response automation using artificial intelligence and machine learning.

Appnovation Technology-Developed SmartWinner, an enterprise learning and engagement  platform.

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