- Education And Career
- Companies & Markets
- Gadgets & Technology
- After Hours
- Banking & Finance
- Energy & Infra
- Case Study
- Web Exclusive
- Property Review
- Digital India
- Work Life Balance
- Test category by sumit
Nomura Brings 8 Startups To Build Solutions For Capital Markets Investment Banking
Nomura services announce 8 startups that are going to work closely in the Capital Markets and Investment Banking (CMIB) category that were selected under the Voyager – Nomura FinTech partnership program. These startups will also contribute to the services of the bank in India
Photo Credit :
The ‘Voyager – Nomura FinTech Partnership’ program in India which was launched on the 19th April 2017, shortlisted 8 startups on 15th November which would help Asia’s global investment bank continue its operations in India and other global branches. 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.
Eight start-ups were selected from over 150 global applicants that collaborated with Nomura over a 10-week period to develop “Proof of Concepts”. The start-ups showcased a wide range of banking solutions including those for client on-boarding, 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 start-ups worked closely with Nomura, leveraged its domain expertise and utilized the Nomura Innovation Centre (NICe) throughout the program.
On talking about the evaluation process Nikhil Mehta, FINTECH Lead and Executive Director, Nomura (India) said, “We got 150+ entries out of which some of the startups were from the non-India market. This program is concentrated on building innovative solutions for Capital Markets and Investment Banking but the larger side of startups are sitting in retail, payments, and investment management areas. Hence we are quite fortunate and pleased to receive such an impressive response from the community across the world. In terms of the startup shortlisting process, there were a couple of things we were quite focused on such as the technology offered by the startups, the pain points we can solve through these technologies and their ability to work and understand the ethics at Nomura.”
Nomura collaborated with PwC as a strategic program partner, and Google, IBM, Amazon Internet Services Pvt. Ltd. and Let’s Talk Payments to bring industry experts to the Voyager 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 Managing Director, Innovations, Nomura Holdings, who was in Mumbai for the demo day.
The 8 startups that were selected by Nomura are as follows:
- Datum Solutions
Datum Solutions specializes in enterprise content management, business process management, and intelligent process automation, leveraging AI, ML, and NLP.
- Recommender Labs
Recommender Labs employs ML 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 NLP. Senseforth mimics human cognitive abilities in reading, comprehending, interpreting and actionizing user intent.
Simility provides banks, wallets, acquirers, issuers, etc. a data lake approach to fraud fighting, combining ML 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 NLP platform to textual data to intelligently automate enterprise processes.
Surukam is among India’s first AI-based legal start-ups which provide a solution to assist legal teams in contract extraction, knowledge management, and collaboration.
Tookitaki provides an ML platform to build and optimize workflows for financial institutions, primarily in operational risk and compliance.
vPhrase'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.
In addition to the initiative, R.K. Rangan, President and CEO, Nomura Services India stated that the startups would be playing a very crucial role in India and address the challenges of the banking sector as it moves into a digital era.
“We have been extremely pleased with the overwhelming number of applications as well as the quality of start-ups under the CMIB-focused Voyager initiative. Our deep engagement and partnership with start-ups has yielded highly promising solutions to address a number of banking industry pain points as well as create new opportunities. This is a strong testament of successful collaboration with the broader FinTech ecosystem.,” said R.K. Rangan.