Fintech
FinTechs can apply in the following domain/s through Fintech Portal for empanelment with UCO Bank.
Sl. No. |
FinTech Category |
1 |
Development and Integration of Digital Journeys |
2 |
Digital Marketing |
3 |
Digital Payment Solutions |
4 |
Payment gateway services |
5 |
AI based virtual voice assistant |
6 |
AI based Automation support |
7 |
Cash Management |
8 |
Collection |
9 |
Credit Rating Agencies |
10 |
Online platform for various Banking product analysis |
11 |
CRM Solutions |
12 |
Cyber Security / Information Security |
13 |
End to End (E2E) managed testing services / Quality Assurance (QA) |
14 |
Agri Tech Solutions |
15 |
Cross Border remittances and Forex prepaid card |
16 |
Insurance/Wealth Management Products |
17 |
Lifestyle Banking |
18 |
Market Place Open Network for Digital Commerce (ONDC)) |
19 |
RegTech Solution |
20 |
RPA Solution Services |
21 |
Software utility /API development |
22 |
Supply Chain Finance |
23 |
UI / UX Development & Customisation |
24 |
Pool & Co-Lending |
25 |
Biometric Authentication in place of OTP |
26 |
Customer Service & Grievance Redressal / Customer Feedback |
27 |
Sentiment Analysis of Social Media |
28 |
Other |
Steps to Apply for Empanelment:
Interested FinTech Company will sign up first by providing the following information:
- Name of the Company
- Official Email ID
- Contact Details
- Authorised Representative
- Location
- GSTIN
- LEI/PAN
Eligibility Criteria
For Start-up FinTechs
- It should be an Indian firm/company
- It is incorporated as a private limited company (as defined in the Companies Act, 2013) or registered as a partnership firm (registered under section-59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008) in India
- It should not be formed by splitting up or reconstructing any existing business/company
- It should have obtained the "Certificate of Recognition" as a ‘Start-up’ from the Ministry of Commerce and Industry (Department of Industrial Policy and Promotion) either as per Notification Number G.S.R. 180 (E) dated 17th February, 2016 or G.S.R. 501(E) dated 23rd May, 2017, or G.S.R 127 (E) dated 19/02/2019 or it should be in the process of applying or already applied for the same, and will submit the certificate before the formal engagement with the bank.
- The participating Startup company should be in business of Banking Technology/ Digital Product and the categories for which the bidder applied.
- The firm/company should be a ‘Start-up’ as on date of signing the contract with the bank while engaging for any product/service/solution from them.
- Start-up is either working towards innovation, development / improvement of products / processes / services or provide solutions that can further enhance the financial inclusion in a significant way or it is a scalable business model with a potential of generating employment.
- It should not be older than 10 years from the date of its incorporation/registration.
- The turnover of the firm/company should not have been greater than 100 crore from the year of commencement or last ten years whichever is later.
FinTechs other than Start-ups :
This policy proposes following criteria for onboarding:
- The company should have a paid-up capital of ₹ 50 lakhs and above.
- However, due to evolving changes in FinTech ecosystem, bank may consider relaxing the minimum paid up capital requirement for good business models duly justifying the same after taking approval from IT Steering Committee.
- The company should have achieved minimum annual turnover of ₹ 5 crore from the FinTech business for its Indian operations during preceding financial year.
- The entity shall have a minimum net worth of ₹ 25 lakh as per its latest audited balance sheet as per RBI’s Enabling Framework for Regulatory Sandbox applicable to FinTech dated 13 Sep 2019.
Other Common Criteria:
- Bidder should be any of the following:
- Incorporated as a public/private limited company (as defined in the Companies Act, 2013) or
- Registered as a partnership firm (registered under section-59 of the Partnership Act, 1932) or
- A limited liability partnership (under the Limited Liability Partnership Act, 2008) in India.
- Companies registered as MSME Entrepreneur & still categorized as MSME as on EOI submission date.
- Start-up company recognized from the Ministry of Commerce and Industry (Department of Industrial Policy and Promotion).
- The company must have undertaken similar projects in any of the Financial Institution in India.
- The company should be an Indian Company or a multinational company having a valid license to operate in India for this activity. The company/firm must neither be a foreign company nor subsidiary of any foreign company. It should either be a company incorporated and registered in India or Banks licensed to operate in India. Further, financial institutions constituted under a statue of India would also be eligible
- The conduct of the Bank account of the FinTech should be satisfactory.
- The credit history of the FinTech should be satisfactory.
- It should demonstrate that the products/services are technologically ready for deployment.
- The entity must demonstrate arrangements to ensure compliance with the existing regulations/laws on consumer data protection and privacy.
- There should be adequate safeguards built in its IT systems to ensure that it is protected against unauthorised access, alteration, destruction, disclosure.
- FinTechs must comply with existing Regulations / Laws on Consumer Data Protection and Privacy and incorporation of adequate safeguards in IT Systems for protection against unauthorized access, alteration, destruction, disclosure.
- The solution offered by the company should not violate any Intellectual Property Rights and must comply to data localization and have strict policies with regards to Data Privacy as per the Digital Personal Data Protection Act 2023 and any further amendment to the same.
- Bidder should not have been debarred / black-listed by any Bank or RBI or any other regulatory authority or Financial Institutions in India as on date of EOI submission.
- The service provider should ensure that there are no legal proceedings / inquiries / investigations have been commenced / pending / threatened against service provider by any statutory or regulatory or investigative for which performance under the contract will get adversely affected / may get affected.
- The FinTech must ensure adequate safeguards built in its IT systems to ensure that it is protected against unauthorised access, alteration, destruction, disclosure.
Interested FinTech/Ecosystem Partners have to furnish following information along with documentary evidence for applying for empanelment:-
1) Company Credentials
- Number of years of experience in FinTech sector.
- Number of successful projects executed in financial services / Banking / Public Sector banks.
- Financial Status – Funded/ Non-funded, Total funding received, Cash-flows, Annual Turnover, Balance Sheet, P&L
- Company details, Network, Background
- Corporate Office/ Registered Office details
- PAN/ GST details
- of Employees, Directors, Partners, Developers
- Company Leadership – Management Experience, Organization Structure, Cultural Fit, Brand value, Key personnel, social engagement.
- Shareholding pattern (including details of Angel Investor/ Foreign investors, if any) Director/s Phone No./ Emails
- Award/ Recognition received, if any
- Startup/ FinTech Registration/ Certification No.
- Existing Tie-ups
- RBI license/Regulatory approvals (wherever applicable)
- Any other relevant information/ data
2) Technical Expertise
- Number of years of experience in FinTech sector.
- Proposition – If the product/ service offered help in achieving existing challenges.
- Platform Readiness – Pre-alpha/ Alpha/ beta/ MVP/ Market Ready/ Production (what is the current stage of solution development).
- Architecture – Development Type/ System Compatibility/ Infrastructure
- Support Services – service Level Agreements (SLAs)/ Troubleshooting/ Customer Service/ IT resilience
- Technology Channels.
- IT security & Data Protection.
- Payment Security mechanism.
3) Legal, Compliance & Regulatory adherence
- Non-disclosure, POC and Pilot agreements.
- Company legal structure & conduct
- Conflict of interest.
- Fraud prevention.
- Regulatory compliance with relevant authorities.
- Any Penalty imposed
- Any Litigation/ Court case
- Blacklisting by any Financial Institution
- Details of Foreign investment.
- Digital Banking Department will review the empanelled FinTechs on Half Yearly basis. The review will be based on financial strength, regulatory as well as statutory guidelines and other authentic market news for the specific empanelled FinTechs.
Sl. No. |
Name Of The Empaneled Company |
Product Category |
1 |
Adroit Corporate Services Pvt. Ltd |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
2 |
Advaya Platform Private Limited |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
3 |
Airpay payment services pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
4 |
Analog legal hub technology solutions pvt. ltd. |
i)PAYMENT GATEWAY SERVICES |
5 |
APMOSYS TECHNOLOGIES PVT. LTD. |
i)AI BASED AUTOMATION SUPPORT |
6 |
Auroionpro solutions ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
7 |
Canpe solutions india pvt. ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
8 |
Cateina technologies pvt. ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
9 |
Chanakya E-services pvt. Ltd. |
SOFTWARE UTILITY/ API DEVELOPMENT |
10 |
Cheggout services pvt. Ltd. |
i)DIGITAL MARKETING |
11 |
Concerto software and systems pvt. Ltd. |
i)DIGITAL PAYMENTS SOLUTIONS |
12 |
Cred avenue pvt. Ltd. |
i)SUPPLY CHAIN FINANCE |
13 |
Cyborgintell |
i)AI BASED AUTOMATION SUPPORT |
14 |
Cygnet Infotech pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
15 |
D2K TECHNOLOGIES INDIA PVT. LTD. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
16 |
Decimal Technologies pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
17 |
Desk nine pvt. Ltd. |
OTHERS |
18 |
Eazebuzz pvt. Ltd. |
i)DIGITAL PAYMENTS SOLUTIONS |
19 |
Fable Fintech pvt. Ltd. |
i)DIGITAL PAYMENTS SOLUTIONS |
20 |
Fintech Blue solutions pvt. Ltd. |
INSURANCE/ WEALTH MANAGEMENT PRODUCTS |
21 |
FPL Technologies pvt ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
22 |
Futuretek commerce pvt ltd |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
23 |
Gamut Analytics pvt. Ltd. |
i)AI BASED VIRTUAL VOICE ASSISTANT |
24 |
IDBI intech ltd. |
i)CASH MANAGEMENT |
25 |
Indbin fintech services llp |
i)DIGITAL MARKETING |
26 |
INDIHOOD pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
27 |
Infrasoft technologies ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
28 |
In-solutions global ltd. |
i)DIGITAL PAYMENTS SOLUTIONS |
29 |
Integra micro systems pvt. Ltd. |
i)PAYMENT GATEWAY SERVICES |
30 |
Intellect design arena ltd. |
i)DIGITAL PAYMENTS SOLUTIONS |
31 |
Jocata financial advidsory and technology services pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
32 |
Kaizen secure voiz pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
33 |
Keypoint technologies(india) pvt. Ltd. |
i)AI BASED VIRTUAL VOICE ASSISTANT |
34 |
Kyzer software india pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
35 |
Letzpay solutions pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
36 |
Loantap financial technologies pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
37 |
M2P solutions pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
38 |
MANIPAL BUSINESS SOLUTIONS PVT. LTD. |
i)COLLECTION |
39 |
Manipal technologies ltd. |
i)DIGITAL PAYMENTS SOLUTIONS |
40 |
Mindgate solutions pvt. Ltd. |
i)DIGITAL PAYMENTS SOLUTIONS |
41 |
Mobicule technologies pvt ltd |
i)AI BASED VIRTUAL VOICE ASSISTANT |
42 |
Moengage India Pvt Ltd |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
43 |
Mswipe technologies pvt ltd |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
44 |
Netcore cloud pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
45 |
Netwin systems and software India pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
46 |
Network people services technologies |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
47 |
Newgen software technologies ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
48 |
Northakross technologies pvt. Ltd. |
i)DIGITAL PAYMENTS SOLUTIONS |
49 |
NTT DATA PAYMENT SERVICES INDIA LTD. |
PAYMENT GATEWAY SERVICES |
50 |
Object technologies solutions lndia pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
51 |
One consumer services pvt. Ltd. |
i)DIGITAL MARKETING |
52 |
Online psb loans ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
53 |
Oritso pvt. Ltd. |
OTHERS |
54 |
Ospyn technologies pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
55 |
Payswift technologies pvt. Ltd. |
DIGITAL PAYMENTS SOLUTIONS |
56 |
Pennant technologies pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
57 |
Perfios software solutions pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
58 |
Planet E-commerce solutions pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
59 |
Plutos one |
DIGITAL PAYMENTS SOLUTIONS |
60 |
PRM soft solutions pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
61 |
Protean e-gov technologies ltd. |
i)AGRI. TECH SOLUTIONS |
62 |
Quantique metadata pvt. Ltd. |
i)CRM SOLUTIONS |
63 |
Sarvatra technologies pvt. Ltd. |
DIGITAL PAYMENTS SOLUTIONS |
64 |
Satsure analytics india pvt. Ltd. |
i)COLLECT ii)CREDIT RATING AGENCIES iii)ONLINE PLATFORM FOR VARIOUS BANKING PRODUCT ANALYSIS iv)AGRI. TECH SOLUTIONS |
65 |
Scoreme solutions pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
66 |
SLO technologies pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
67 |
Softmate systems llp |
i)AGRI. TECH SOLUTIONS |
68 |
Solvytech solutions pvt ltd |
INSURANCE/ WEALTH MANAGEMENT PRODUCTS |
69 |
SRV IT hub pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
70 |
Tapits technologies pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
71 |
Timble technologies pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
72 |
Transbnk solutions pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
73 |
Trust fintech ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
74 |
Ultracash technologies pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
75 |
Webnyay pvt. Ltd. |
i)COLLECTION |
76 |
Wtsln fintech pvt. Ltd. |
i)DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS |
77 |
Yalamanchili software exports pvt. Ltd. |
i)DIGITAL PAYMENTS SOLUTIONS |