Religare and Nasscom CoE Tech Innovation Partnership To Help Startups

Religare Enterprises Limited (REL), India's leading diversified financial services group, has joined hands with nasscom CoE for IoT & AI to enhance business processes and embrace cutting-edge technology and innovation.

This strategic partnership aims to leverage nasscom CoE's expertise in co-creation and its extensive network of startups and SMEs specializing in emerging technologies to drive tech innovation within the financial services sector. Through this collaboration, both organizations envision creating long-term value, enhancing customer experience, and driving operational efficiencies and data security.

Religare and nasscom CoE: A Visionary Alliance

The partnership between Religare and nasscom CoE is a significant milestone in the journey of Religare Enterprises Ltd towards becoming a comprehensive 360-degree financial services provider. By actively nurturing, adopting, and integrating technological innovations, Religare aims to reinforce its business operations, deliver unparalleled value to its customers and shareholders, and accelerate its digital transformation journey. Furthermore, the partnership aligns with the vision of supporting Indian-born startups and India-specific solutions, contributing to the government's Atmanirbhar Bharat initiative.

Announcing the partnership, Dr Rashmi Saluja, Executive Chairperson, Religare Enterprises Ltd said, "Our collaboration with nasscom CoE signifies a significant milestone in our journey towards becoming a 360-degree financial services provider by nurturing, adopting, and integrating technological innovations in our core and future businesses. By harnessing the power of emerging technologies, we aim to strengthen our business operations, enhance diligence, and deliver unparalleled value to our customers and shareholders. It is our vision that this partnership will not only accelerate our digital transformation but also enable us to support other players in the financial services sector to undertake this journey."

"Furthermore, our vision is to support startups that are born in India and focused on India- specific solutions. In doing so, we are aligning ourselves with the government's vision of on Atmanirbhar Bharat a self-reliant and economically strong nation. Nurturing these startups will enable us to retain talent and ownership of India-centric solutions, thereby strengthening our global leadership in technology and innovations."

Harnessing Emerging Technologies for Industry Transformation

nasscom CoE's expertise in co-creation, coupled with its vast network of startups and SMEs specializing in AI, ML, AR/VR, Robotics, Blockchain, Drones, and IoT, presents a compelling opportunity for Religare Group. The collaboration enables Religare to access relevant innovators and their cutting-edge technologies, empowering them to explore potential business collaborations tailored to the company's specific needs. Through this alliance, the enterprise and the BFSI sector can harness emerging technologies for industry transformation, driving significant impact and growth.

The Fifth Version of Healthcare Innovation Challenge (HIC)

Alongside the strategic partnership, nasscom CoE has also announced the launch of the Fifth version of the Healthcare Innovation Challenge (HIC). This unique initiative addresses the challenges faced by healthcare providers during their digital transformation journey. Notably, Religare Group's Care Health Insurance Ltd, a prominent player in the health insurance space, will collaborate with nasscom CoE to bring forth digital technology solutions for the health insurance industry, further advancing the sector's technological capabilities.

Initiatives to Shape the Future of Financial Services

The Religare-nasscom CoE partnership encompasses several key initiatives aimed at shaping the future of financial services. Regular pitch sessions will provide Religare with access to a curated pool of innovators, opening doors for potential collaborations in the near future. Additionally, the alliance offers Religare an early advantage in identifying strategic investment opportunities in startups, fostering innovation, and driving overall growth.

Promoting Homegrown Tech Innovation

Mr. Sanjeev Malhotra, CEO of nasscom CoE, emphasized the significance of jointly working with Religare and its entities to co-create solutions with the startup ecosystem. This approach promotes homegrown tech innovation, creating a positive impact on enterprises and generating significant business value. As part of this collaboration, Religare will also mentor two CoE-incubated startups, nurturing entrepreneurial talent and bolstering the startup ecosystem.

"Religare and its entities will jointly work on use-cases and co-create solutions with the startup ecosystem that will promote homegrown tech innovation driving significant impact on enterprises and create business value," Sanjeev Malhotra remarked. 

The strategic partnership between Religare Enterprises Limited and nasscom CoE for IoT & AI is a visionary alliance that sets the stage for a future-ready financial services landscape. By harnessing the power of emerging technologies, both organizations aim to enhance customer experience, drive operational efficiencies, and reinforce data security. Moreover, the collaboration aligns with India's vision of becoming a global leader in technology and innovation, championing diversity and equal opportunity along the way.

As the Religare Group continues its journey towards being a 360-degree financial services provider, the infusion of cutting-edge technology and innovation will undoubtedly play a pivotal role in strengthening its position at the forefront of the industry. This strategic partnership not only drives Religare's digital transformation but also paves the way for supporting other players in the financial services sector to embark on a similar transformational journey. As the financial landscape evolves, Religare's commitment to supporting India-centric solutions and nurturing homegrown tech talent will contribute to India's growth as a self-reliant and economically strong nation.

With nasscom CoE's vast network of startups and SMEs specializing in emerging technologies, the Religare Group gains unprecedented access to relevant innovators and their transformative solutions. By fostering innovation and co-creating solutions with the startup ecosystem, this partnership aims to shape the future of financial services, unlocking new opportunities and driving significant business value for enterprises. As Religare's digital transformation journey accelerates, it reinforces the organization's commitment to delivering cutting-edge solutions and unparalleled value to its customers, positioning itself as a leading force in the financial services sector.