Global investment bank, Nomura, hosted a demo day (at their Powai campus) for startups chosen as part of the ‘Voyager – Nomura FinTech Partnership’ program in India. The program was launched earlier this year with the aim to build innovative solutions for Capital Markets and Investment Banking (CMIB) that can be deployed across the firm and financial services industry.
We have been extremely pleased with the overwhelming number of applications as well as the quality of startups under the CMIB-focused Voyager initiative. Our deep engagement and partnership with startups have yielded highly promising solutions to address a number of banking industry pain points as well as create new opportunities. This is a strong testament to a successful collaboration with the broader FinTech ecosystem, said R.K. Rangan (President, and CEO, Nomura Services India)
Eight startups were selected from over 150 global applicants that collaborated with Nomura over a 10 week period to develop “Proof of Concepts”. The startups showcased a wide range of banking solutions including those for client onboarding, business intelligence & market insights, enhanced risk & control, and human resources management, using emerging technologies such as artificial intelligence (AI), machine learning (ML), anomaly detection, natural language processing (NLP), natural language generation (NLG) and chatbots.
Selected startups worked closely with Nomura, leveraged its domain expertise and utilized the Nomura Innovation Centre (NICe) throughout the program.
Rapidly evolving technologies are transforming the way we operate, and this wave of technological disruption is poised to reshape the industry. Nomura is focused on nurturing innovation across the value-chain using new technologies to redesign and re-imagine our operating model. The Voyager initiative in India is a further sign of our commitment to drive financial innovation globally, said Yo Akatsuka, Senior MD, Innovations, Nomura Holdings, who was in Mumbai for the demo day
Nomura collaborated with PwC as a strategic program partner, and Google, IBM, Amazon Internet Services and Let’s Talk Payments to bring industry expertise to the Voyager program.
Below are the eight startups that showcased their solutions to Nomura executives and clients, as well as senior representatives from the FinTech community.
The startup specializes in enterprise content management, business process management, and intelligent process automation, leveraging artificial intelligence (AI), machine learning (ML), and natural language processing (NLP).
Recommender Labs employs machine learning algorithms with AI-based analytics, chatbots and games to generate personalized recommendations for FinTech, customer experience, human resources.
Senseforth is a human-like conversation platform built on AI and natural language processing (NLP). Senseforth mimics human cognitive abilities in reading, comprehending, interpreting and actionizing user intent.
The startup provides banks, wallets, acquirers, issuers, etc. a data lake approach to fraud fighting, combining machine learning models with rules and behavioral analytics to provide a high efficacy solution.
Stride.ai mimics human intelligence at scale and applies its proprietary AI and natural language processing (NLP) platform on textual data to intelligently automate enterprise processes.
It is an AI-based legal startup which provides a solution to assist legal teams in contract extraction, knowledge management, and collaboration.
It provides a machine learning platform to build and optimize workflows for financial institutions, primarily in operational risk and compliance.
The startup’s AI product Phrazor summarizes data and gives key insights in a few bullet points ensuring companies spend less time in analysis and more time in making decisions.