Afthonia Lab, India’s leading private fintech incubator, announced a strategic partnership with DBS Bank India Limited to empower fintech startups to bring innovative solutions to transform the traditional Indian financial industry. Through this partnership, startups from Afthonia Lab can tap into the DBS network to receive a safe ecosystem to experiment, test their ideas, and grow.
Startups with Afthonia Lab will access a secure and safe ecosystem and blueprint to conduct their business operations supported by DBS. With Afthonia Lab’s technological expertise and DBS Bank’s digital infrastructure, these startups can prepare for the next inflection point in their journeys to move ahead in their respective marketplaces.
Speaking on this partnership, Tanul Mishra, CEO of Afthonia Lab, said, “We are glad to be associated with DBS Bank since we believe that the traditional financial industry is on the cusp of a digital revolution, and fintech startups are leading this change. Partnering with DBS was an obvious choice because of our shared ideology that fintech startups are the principal growth drivers of the economy, currently in the aftermath of Covid. With DBS, we want to ensure a holistic and safe environment for startups to not only grow but thrive.”
Commenting on this partnership, Sudarshan Chari, Executive Director & Head – of Business Banking, DBS Bank India, said, “The world today is moving towards integrating seamless digital experiences for various banking requirements of users. As a digital-first bank, we are aligned with the vision to empower innovation and design end-to-end digital solutions that would ease financial access for customers. True to Startup India’s ethos, we take pride in partnering with a like-minded fintech incubator like Afthonia Lab to catalyze startup culture and build an inclusive ecosystem for innovation. The partnership offers an opportunity for startups to build an integrated platform that will shape the future of financial services in the country. This shift to platform-based models is a win-win for both fintech and banks as it provides benefits to both.”