Indian private sector lender Axis Bank has partnered with Amazon Internet Services (AISPL) – the India affiliate of Amazon Web Services- to set up a start-up hub at its ‘Thought Factory’ in Bengaluru.
Thought Factory will help Indian start-ups interact with Amazon to get solutions to their technology-related questions, free of cost.
AISPL India managing director Bikram Bedi said: “We are excited to partner with Axis Bank on the Thought Factory ‘Social’ and we see this as an opportunity to further promote the startup ecosystem by hosting interesting startup events, thought leadership talks, boot camps, start-up pitches, etc. Start-ups will also get to benefit from regular architecture review and Ask-an-architect sessions to improve their technology stack implementation."
The bank has also collaborated with Singapore’s Overseas Chinese Banking Corporation’s (OCBC) fintech unit- The Open Vault at OCBC- for knowledge sharing and mentorship to start-ups.
In addition, the bank has tied up with global cards and payment company Visa to jointly create innovative digital commerce solutions.
Under the partnership, startups signed up under Thought Factory will get access to the Visa Developer platform that offers open access to Visa’s payment capabilities.
Axis Bank executive director Rajiv Anand said: “Our Thought Factory in Bengaluru is equipped with state of the art infrastructure and technology designed to foster entrepreneurship and innovation in Banking & beyond.
“We are happy to collaborate with Global Financial and Technology companies to create a vibrant ecosystem of Banks, startups & tech innovators. Our first batch of startups, due to join in September, will build interesting use cases for AI, Blockchain, Big Data Analytics, robotics and much more that can take Consumer Banking to the next level.”