On Monday, October 14th, Cygnet Infotech emerged as one of the four winners at HDFC Bank’s Digital Innovation Summit (DIS) held in MIIC, MNIT, Jaipur for our unique Fintech Innovation, the GRC Score. As an awardee, Cygnet will now get a chance to deploy this outstanding solution in HDFC Bank.
The GRC score, a unique feature of Cygnet GSP, is a one-of-its-kind Fintech Innovation from Cygnet, an advance credit assessment solution for Banks, NBFCs & Corporate’s using GST data. GST returns compliance score can be calculated based on your filing trends. The summit is a part of HDFC’s efforts to identify potential FinTech leaders from different parts of India. 23 start-ups were shortlisted from 105 applications at the summit. The applicants showcased their ideas to a jury comprising HDFC Bank’s top management, representatives of Startup India; MIIC, MNIT Jaipur; iStart Rajasthan; AIC JKLU; NITI Aayog, 91Springboard; IvyCamp; CIIE, IIM A.
These ideas were evaluated and shortlisted by a jury based on:
- Business Potential,
- Usability and Scalability,
- Compatibility with HDFC Bank’s business and technology platforms.
The innovations were in the areas of cyber security, payments augmented and virtual reality (AR/VR), artificial intelligence (AI), machine learning (ML), analytics, and robotic process automation etc.
“DIS is a marriage of disruptive technologies from start-ups and HDFC Bank’s customer focus,” said Rajnish Khare, Digital Transformation, API Banking, UI/UX, Social Business & New Media Country Head – Digital Banking, HDFC Bank.
“The objective of the Digital Innovation Summit in Jaipur is to have at its disposal a pool of cutting-edge world technology solutions. It’s gratifying that we had over 105 companies applying to participate in the Summit.”
Cygnet was selected as a GST Suvidha Provider in 2016 and since then has developed comprehensive solutions for GST, E-way Bill and other tax technology solutions under the Cygnet GSP initiative. In fact, it is the first GSP in India to go LIVE. You can read more about it here – www.cygnetgsp.in.
About Cygnet Infotech
Cygnet Infotech is one of the most trusted names in the IT space delivering technology solutions across 35 countries. Born out of a vision to create a software development company where quality, innovation and personalized services trump low cost, makeshift solutions, Cygnet enables its clients to digitize, scale and transform into high performance businesses.