Fintech Empanelment1
Fintech Empanelment
A. Notice for Empanelment through FinTech Portal
A. FinTech / Ecosystem Partners 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 |
Fintech Portal of the Bank (https://ucobank.com/web/fintech/fintech-login) is accessible/available through Bank’s Corporate Website (ucobank.com).
Steps to Apply for Empanelment: -
- Visit ucobank.com
- Click on Fintech and then FinTech Portal.
- Register with basic details and password through sign up.
- Company to login with these credentials and change password.
- Fill up the three forms namely- Company Credentials, Technical Expertise and Regulatory Adherence.
- Attach supporting documents wherever required.
- Submit the application.
Process of Empanelment: -
- The FinTech empanelment through Bank’s FinTech Portal which shall be made available and notice for the same shall also be given. (The Fintech portal window shall be made available for a period of 15 days).
- The FinTechs shall register themselves and submit the desired documents on the Bank’s FinTech Portal or email at [email protected]. A FinTech can register themselves in multiple category also.
- The FinTechs will be evaluated on the basis of the Selection Criteria for empanelment of Fintechs/Startups. Clarifications, if required will be sought for. The eligibility criteria are displayed on Bank’s website.
- During the evaluation, presentation may be sought from the Fintechs.
- Once the Fintech are empanelled, they shall be provided with Letter of Empanelment and the name of the FinTech will be displayed with FinTech category name on Bank’s website.
B. Selection Criteria for empanelment of Fintech & Eco-system partners
Interested FinTech/Ecosystem Partners have to furnish following information along with documentary evidence for applying for empanelment:-
a) Eligibility criteria for FinTech Empanelment
For Start-up FinTechs:
Following are the eligibility criteria defined by DIPP (Department of Industrial Policy & Promotion) for the entities to qualify as a Start-up:
- 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.
- 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:
- 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.
- 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 entity as well as its promoter/director should be satisfactory.
- The credit history of the promoter/director/entity shall 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.
- FinTechs must comply to data localisation and have strict policies with regards to Data Privacy
Note: - In future, if there are any amendments with respect to the definition of ‘Start-ups’ issued by DIPP through public notification, it will also be applicable to UCO Bank FinTech Policy.
If a FinTech start-up is not eligible as per the criteria mentioned above, then it will be considered as established organization and other than start-up criteria of the policy will be applicable for engaging with them.
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.
C. List of Fintech companies/Startups empaneled by Bank
SR NO |
NAME OF THE EMPANELED COMPANY |
PRODUCT CATEGORY |
1 |
ADROIT CORPORATE SERVICES PVT. LTD |
I. DEVELOPMENT AND INTEGRATION OF DIGITAL JOURNEYS II. CASH MANAGEMENT III. COLLECTION IV. END TO END MANAGED TESTING SERVICES/ QUALITY ASSURANCE V. AGRI. TECH SOLUTIONS VI. SOFTWARE UTILITY/ API DEVELOPMENT VII. UI/UX DEVELOPMENT AND CUSTOMIZATION VIII. POOL AND CO- LENDING IX. CUSTOMER SERVICE AND GRIEVANCE REDRESSAL/ CUSTOMER FEEDBACK X. OTHERS |
2 |
ADVAYA PLATFORM PRIVATE LIMITED |
|
3 |
AIRPAY PAYMENT SERVICES PVT. LTD. |
|
4 |
ANALOG LEGAL HUB TECHNOLOGY SOLUTIONS PVT. LTD. |
|
5 |
ANNIYAM PAYMENT SOLUTIONS PRIVATE LIMITED |
|
6 |
APMOSYS TECHNOLOGIES PVT. LTD. |
|
7 |
AUROIONPRO SOLUTIONS LTD. |
|
8 |
CANPE SOLUTIONS INDIA PVT. LTD. |
|
9 |
CATEINA TECHNOLOGIES PVT. LTD. |
|
10 |
CHANAKYA E-SERVICES PVT. LTD. |
|
11 |
CHEGGOUT SERVICES PVT. LTD. |
|
12 |
CONCERTO SOFTWARE AND SYSTEMS PVT. LTD. |
|
13 |
CRED AVENUE PVT. LTD. |
|
14 |
CUSTOMERXPS SOFTWARE PRIVATE LIMITED |
|
15 |
CYBORGINTELL |
|
16 |
CYGNET INFOTECH PVT. LTD. |
|
17 |
D2K TECHNOLOGIES INDIA PVT. LTD. |
|
18 |
DECIMAL TECHNOLOGIES PVT. LTD. |
|
19 |
DESK NINE PVT. LTD. |
|
20 |
DGLIGER CONSULTING PRIVATE LIMITED |
|
21 |
DIGIVRIDDHI TECHNOLOGIES PVT LTD |
|
22 |
EAZEBUZZ PVT. LTD. |
|
23 |
FABLE FINTECH PVT. LTD. |
|
24 |
FINTECH BLUE SOLUTIONS PVT. LTD. |
|
25 |
FPL TECHNOLOGIES PVT LTD. |
|
26 |
FUTURETEK COMMERCE PVT LTD |
|
27 |
GAMUT ANALYTICS PVT. LTD. |
|
28 |
GOKIWI TECH PVT. LTD. |
|
29 |
IDBI INTECH LTD. |
|
30 |
INDBIN FINTECH SERVICES LLP |
|
31 |
INDIHOOD PVT. LTD. |
|
32 |
INFIBEAM AVENUES LIMITED |
|
33 |
INFRASOFT TECHNOLOGIES LTD. |
|
34 |
IN-SOLUTIONS GLOBAL LTD. |
|
35 |
INTEGRA MICRO SYSTEMS PVT. LTD. |
|
36 |
INTELLECT DESIGN ARENA LTD. |
|
37 |
INTELLEWINGS PVT LTD |
|
38 |
KAIZEN SECURE VOIZ PVT. LTD. |
|
39 |
KEYPOINT TECHNOLOGIES (INDIA) PVT. LTD. |
|
40 |
KNIGHT FINTECH PRIVATE LIMITED |
|
41 |
KYZER SOFTWARE INDIA PVT. LTD. |
|
42 |
LETZPAY SOLUTIONS PVT. LTD. |
|
43 |
LOANTAP FINANCIAL TECHNOLOGIES PVT. LTD. |
|
44 |
M2P SOLUTIONS PVT. LTD. |
|
45 |
MANIPAL BUSINESS SOLUTIONS PVT. LTD. |
|
46 |
MANIPAL TECHNOLOGIES LTD. |
|
47 |
MINDGATE SOLUTIONS PVT. LTD. |
|
48 |
MOBICULE TECHNOLOGIES PVT LTD |
|
49 |
MONEPEAK FINTECH PRIVATE LIMITED |
|
50 |
MSWIPE TECHNOLOGIES PVT LTD |
|
51 |
NELITO SYSTEMS PRIVATE LIMITED |
|
52 |
NETCORE CLOUD PVT. LTD. |
|
53 |
NETWIN SYSTEMS AND SOFTWARE INDIA PVT. LTD. |
|
54 |
NETWORK PEOPLE SERVICES TECHNOLOGIES |
|
55 |
NEWGEN SOFTWARE TECHNOLOGIES LTD. |
|
56 |
NORTHAKROSS TECHNOLOGIES PVT. LTD. |
|
57 |
NTT DATA PAYMENT SERVICES INDIA LTD. |
|
58 |
ONE CONSUMER SERVICES PVT. LTD. |
|
59 |
ONE STACK SOLUTION PVT LTD |
|
60 |
ONLINE PSB LOANS LTD. |
|
61 |
ORITSO PVT. LTD. |
|
62 |
OSPYN TECHNOLOGIES PVT. LTD. |
|
63 |
PAYSWIFT TECHNOLOGIES PVT. LTD. |
|
64 |
PENNANT TECHNOLOGIES PVT. LTD. |
|
65 |
PERFIOS SOFTWARE SOLUTIONS PVT. LTD. |
|
66 |
PINELABS PRIVATE LIMITED |
|
67 |
PLANET E-COMMERCE SOLUTIONS PVT. LTD. |
|
68 |
PLUTOS ONE |
|
69 |
PRM SOFT SOLUTIONS PVT. LTD. |
|
70 |
PROTEAN E-GOV TECHNOLOGIES LTD. |
|
71 |
QUANTIQUE METADATA PVT. LTD. |
|
72 |
SARVATRA TECHNOLOGIES PVT. LTD. |
|
73 |
SATSURE ANALYTICS INDIA PVT. LTD. |
|
74 |
SCOREME SOLUTIONS PVT. LTD. |
|
75 |
SIGNZY TECHNOLOGIES PVT. LTD. |
|
76 |
SLO TECHNOLOGIES PVT. LTD. |
|
77 |
SOFTMATE SYSTEMS LLP |
|
78 |
SOLVYTECH SOLUTIONS PVT LTD |
|
79 |
SRV IT HUB PVT. LTD. |
|
80 |
TAPITS TECHNOLOGIES PVT. LTD. |
|
81 |
TIMBLE TECHNOLOGIES PVT. LTD. |
|
82 |
TRANSBNK SOLUTIONS PVT. LTD. |
|
83 |
TRUST FINTECH LTD. |
|
84 |
ULTRACASH TECHNOLOGIES PVT. LTD. |
|
85 |
UMBO IDTECH PRIVATE LIMITED |
I. INSURANCE/ WEALTH MANAGEMENT PRODUCTS |
86 |
WEBNYAY PVT. LTD. |
|
87 |
WTSLN FINTECH PVT. LTD. |
|
88 |
YALAMANCHILI SOFTWARE EXPORTS PVT. LTD. |
|
D. Details of tenders awarded for statement of transparency in works/contracts awarded on RFQ or nomination basis
tenders awarded for statement of transparency in works/contracts awarded on RFQ or nomination basis
- TENDERS AWARDED DETAILS FOR STATEMENT OF TRANSPARENCY IN WORKS_CONTRACTS AWARDED ON RFQ OR NOMINATION BASIS-DIGITAL MERCHANT ONBOARDING
- TENDERS AWARDED DETAILS FOR STATEMENT OF TRANSPARENCY IN WORKS_CONTRACTS AWARDED ON RFQ OR NOMINATION BASIS-E COMMERCE MARKETPLACE
- TENDERS AWARDED DETAILS FOR STATEMENT OF TRANSPARENCY IN WORKS_CONTRACTS AWARDED ON RFQ OR NOMINATION BASIS-TRAVEL MARKETPLACE
- TENDERS AWARDED DETAILS FOR STATEMENT OF TRANSPARENCY IN WORKS_CONTRACTS AWARDED ON RFQ OR NOMINATION BASIS-UPI 123 PAY