State Bank of India (SBI) has launched the SBI Innovation Hub at Singapore Fintech Festival held on 6-8 November in collaboration with APIX; a global collaborative platform for financial institutions and FinTechs. The hub will provide a dedicated space to global FinTechs, startups, and innovators to create unique financial solutions that can meet the digital needs of the banking giant diverse customer base. This initiative ensures SBI’s commitment to driving financial innovation, accelerating digital transformation, and promoting financial inclusion.

The participants in the SBI Innovation Hub can access and leverage over 250 financial service APIs within a secure Sandbox environment. The setup will allow the development and customization of cutting-edge financial solutions. It has been designed to simplify the process and provide a single touchpoint for FinTechs and startups, enabling them to collaborate and innovate efficiently.

Vidya Krishnan, Deputy Managing Director (IT); SBI, emphasized that the Innovation Hub represents a crucial step in SBI’s digital transformation, fostering global collaborations for impactful and customer-centric financial solutions. Umang Moondra; CEO, APIX, highlighted the strategic partnership with SBI as a milestone achievement, offering developers access to secure APIs and resources that advance financial inclusion and innovation on a global scale.