Catalyst: accelerating business with Indian startups
Societe Generale in India launched the 2018 edition of Catalyst, calling on FinTech, technology startups and universities to take part in the digital transformation of the banking industry. Catalyst aims to connect innovation experts and appropriate technology startups with Societe Generale business leaders to deliver real solutions and insightful research in areas of strategic interest to the banking industry.
Catalyst 2018, a 10-week accelerator programme, started in Bengaluru, India, on 18 May, 2018 to bring together use cases from Societe Generale entities worldwide. The final selection of use cases across our global offices resulted in an astounding number of over 175 and majority of these use cases were related to Data Analytics, KYC and Artificial Intelligence. A collaborative platform, Catalyst will provide the necessary operational skillsets, infrastructure and applications to test, iterate and scale their products using real business scenarios and data volumes.
Previous editions of Catalyst saw 22 startups selected, which delivered solutions for 29 use cases, of which nine are currently in production. SG GSC has signed commercial contracts with the selected startups to further develop their solutions at the necessary scale for global implementation within the Bank.
Vijay Nadadur, Co-Founder & CEO, Stride.ai, and a previous beneficiary of Catalyst said “The Catalyst programme by Societe Generale was a defining moment in our journey. At the end of the programme, we had the ultimate joy of signing up Societe Generale as our customer. This has led our business to grow leaps and bounds, and today we have more than 10 large financial services organisations as our customers. Without Catalyst, this wouldn't have been possible."
I must admit that participating in the #Catalyst program at #SGGSC was one of the best things that happened to our startup. https://t.co/ATAXimpCAZ— Vijay Nadadur (@vjkant) 22 mai 2018
Thank you @SocieteGenerale for giving us the initial opportunity.
In line with its commitment to anticipate fast-changing customer demands, Societe Generale is developing its innovation strategy by experimenting with disruptive technologies and stepping up its interaction with the digital ecosystem in a spirit of open collaboration. The Group is notably dedicating €150 million over three years in an innovation fund to finance internal and external startups as part of the “Transform to Grow” strategic plan.