Aditya Birla Group launches BizLabs FinTech 2019, collaborate with startup ecosystem

Aditya Birla Group has launched BizLabs FinTech 2019 that will enable innovative startups to solve real business challenges of its financial service arm, Aditya Birla Capital.
Aditya Birla Capital is one of India’s largest financial conglomerates with assets under management of over Rs 3 trillion, a consolidated lending book of more than Rs 630 billion and total insurance premium of over Rs 80 billion. ABC serves over 10 million active customers, including about 15,000 SME and MSME clie ..

This is not the first startup focused initiative of the Group under Biz Labs, but the first time it is doing something around fintech. There has been a tangible proliferation of B2B focus fintech firms in recent years and it is clear that ABG felt it as important to actively collaborate to address problems specific to the problem statements in its credit business. This initiative is also an attempt to explore open source innovations to boost the Group’s digital and tech agenda.