SBI Launches Innovation Hub at Singapore Fintech Festival to Drive Global Financial Innovation

Indian companies, including the State Bank of India, are expanding fintech partnerships at the Singapore Fintech Festival. SBI launched an Innovation Hub with APIX, offering fintechs a platform to innovate financial solutions. Gupshup also partners with Standard Chartered for conversational AI in finance in Singapore.

At the Singapore Fintech Festival, Indian businesses take center stage with notable partnerships, highlighted by the State Bank of India's (SBI) launch of an innovation hub. This strategic initiative is in collaboration with APIX, a global collaborative innovation platform based in Singapore, focusing entirely on financial institutions and fintechs.

The SBI Innovation Hub is dedicated to providing a space for startups and innovators to create next-gen financial solutions. It aims to accelerate financial innovation and digital transformation while advancing financial inclusion. Participants can leverage over 250 SBI financial service APIs, allowing them to develop and customize solutions securely.

Through challenges and hackathons, the platform offers fintechs opportunities to gain recognition and partner officially with SBI, potentially reaching millions of Indian users. Additionally, Singapore's conversational AI sector sees progress with Gupshup's AI-powered assistant enhancing banking operations at Standard Chartered Bank.

(With inputs from agencies.)