We are an early stage start up team engaged in product development for the Bankers globally. Even after the validation of the problem statement and getting selected by an NBFC Housing finance company for the product development, we could not move forward owing to zero net worth of the team members. We conducted road shows in all Government banks in India, and we learnt the lessons that we need to build the balance sheet even before building the product. We realised that an early stage start up team under sweat- equity model cannot approach the bankers directly even if they have great innovative ideas. Hence we decided to negotiate with a few product vendor companies in REGTECH space, to build our solution on their platform by sharing the IP rights with them. This method would enhance the net worth of the product vendor before the bankers. However we are yet to get a positive response from them. In the mean time we are also participating in Fintech accelerator programs that have th...
We are an early stage start up team engaged in product development for the Bankers globally. Even after the validation of the problem statement and getting selected by an NBFC Housing finance company for the product development, we could not move forward owing to zero net worth of the team members. We conducted road shows in all Government banks in India, and we learnt the lessons that we need to build the balance sheet even before building the product. We realised that an early stage start up team under sweat- equity model cannot approach the bankers directly even if they have great innovative ideas. Hence we decided to negotiate with a few product vendor companies in REGTECH space, to build our solution on their platform by sharing the IP rights with them. This method would enhance the net worth of the product vendor before the bankers. However we are yet to get a positive response from them. In the mean time we are also participating in Fintech accelerator programs that have the best Eco system to support an early stage entrepreneurs to succeed in their entrepreneurial efforts.
The first product we are developing is AI based Risk based Internal audit solution (RBIA) for the use of the Internal auditors of the bank. RBIA methodology embedded in our product, enables the internal auditors to take risk focus in their internal audit function. Risks are identified in the business process and quantified with the help of AI technology. The internal auditor conducts audit of the branches and puts them in the risk matrix for monitoring by the risk committee and audit committee of the bank. The board of directors will review through the audit and risk committees whether the risk management policies are effective in managing the enterprise wide risks in the banks. RBIA is also a regulatory push by Basel Committee on Banking Supervision (BCBS). Initially we are focusing on three markets namely Switzerland, Europe and Canada. We have plans to go in partnership with AI labs in those locations for our AI requirements. We have built technical architecture and other functional spec and PRD for the product development of RBIA.
The second product we are planning to build is a 'Preventive vigilant tool', a solution that would empower the bankers to prevent loss proactively and safe guard the customers’ interest, by identifying vulnerable areas in their existing IT ECO systems. This product will also use AI.
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Bhaskaran Radhakrishnan
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Bhaskaran Radhakrishnan CEO I carry the research mind looking for any new innovative things. I am customer oriented and take decisions based on intuition.

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