Cedar-IBSi FinTech Lab: Success in 2023, ambitious expansion in 2024!

By Puja Sharma

The Cedar-IBSi FinTech Lab is a robust community of global banking and financial technology enthusiasts aspiring to be the future of FinTech. The Lab has demonstrated remarkable success in incubation through strategic partnerships, diverse events, and a supportive ecosystem in 2023. Marking a successful year of growth, we welcomed:

• 8 New Lab Members: Coforge, NetGuardians, Intellect Design Arena, Gieom, Tesselate, Veefin, Clayfin, Neokred
• 7 Technology Partners: Asana, Digital Ocean, GitHub, Hubspot for Start-ups, Notion, Nvidia, and Zoho for Start-ups

Over the 5 years of its existence, the Cedar-IBSi FinTech Lab has repeatedly demonstrated a clear commitment to building a robust global community. The Lab’s multi-faceted offerings cater to FinTechs at various stages of their lifecycle, providing a comprehensive set of benefits to Lab members. Its thriving community provides start-ups access to cutting-edge technologies and global networks and creates an environment conducive to innovation, collaboration, and growth. The year 2023 also saw the Lab in partnership with key international organizations and play host to a series of event bringing its community together:

4 Ecosystem Partnerships: DIFC, START AD, AFN, SINE IIT Bombay

• Events: 4 Round Tables, 4 Advisory Sessions, and 1 FinTech Happy Hour

The Lab’s achievements in 2023 showcase its commitment to fostering a vibrant FinTech ecosystem, making it an attractive choice for those looking to be at the forefront of financial technology innovation.

Growth in membership

Adding new members, including Coforge, NetGuardians, Intellect Design Arena, Gieom, Tesselate, Veefin, IDA, Clayfin, and Neokred, reflects the growing ecosystem within the Cedar-IBSi FinTech Lab. This influx of diverse talents and perspectives contributes to a rich and dynamic collaborative environment.

Strategic technology partnerships

The lab has established partnerships with 7 prominent technology companies, namely Asana, Digital Ocean, GitHub, Hubspot for Start-ups, Notion, Nvidia, and Zoho for Start-ups. These partnerships provide access to cutting-edge technologies and facilitate knowledge exchange, fostering innovation and growth for all involved.

Ecosystem partnerships

The Cedar-IBSi FinTech Lab has forged alliances with 4 key ecosystem partners – DIFC (Dubai International Financial Centre), START AD, AFN (African Fintech Network), and SINE IIT Bombay. These partnerships broaden the lab’s reach, offering unique opportunities for collaboration, mentorship, and market exposure.

Community engagement & global recognition

The Lab has engaged with its community through various events, including Round Tables, Advisory Sessions, and a FinTech Happy Hour. These events serve as platforms for knowledge sharing, networking, and collaboration, fostering a vibrant ecosystem that accelerates the growth of start-ups and nurtures innovative ideas.

The Cedar-IBSi FinTech lab is a hub for innovation, providing an environment where start-ups can thrive. The Round Tables and Advisory Sessions contributed to the exchange of ideas, insights, and expertise, furthering the collective knowledge of the lab members.

The FinTech Happy Hour is a testament to the Lab’s commitment to creating a supportive community. This networking event allowed members to connect, share experiences, and explore potential collaborations, fostering a sense of camaraderie within the ecosystem.

Through partnerships with internationally recognized entities such as DIFC and participation in events like AFN, the Cedar-IBSi FinTech Lab has built global recognition. Being part of the Lab gives start-ups a unique opportunity to access global markets and establish an international presence.

Coming in 2024: Mumbai Lab evolution

The Mumbai Lab, currently a satellite hub, is gearing up for a significant change – soon, it will have its own physical space in the city. This move is about making it easier for Moonshot Accelerator portfolio companies and lab members to work together. The new location will be a hub for sharing ideas, speeding up projects, and learning from each other. It’s a step towards more collaboration, helping everyone involved in the Moonshot Accelerator make exciting advances in technology and business.

Angleen Malik, Director at the Cedar-IBSi FinTech Lab, said: “The Cedar-IBSi FinTech Lab was established to bring relevant BankTech industry leaders together under one roof to foster collaboration. 2023 has been a year of experimenting with various new formats of sessions and deliverables and forging robust technology and ecosystem partnerships in the industry. The new technology partners credit program now enables Lab members access to $21,000 worth of credits for various products. The ecosystem partnerships allow the Lab members to access multi-dimensional and global networks and knowledge.”

Malik added: “We aim to continue delivering value to our Lab members by providing them soft-landing opportunities through market access and intelligence, knowledge access, visibility, and resource access. The FinTech Lab calendar for 2024 is power packed with 4 external industry expert hours, 4 bankers’ round table discussions, 4 advisory sessions, and 5 FinTech Happy Hours. If you’re an early or a growth stage BankTech company looking to unlock growth, reach out to the Lab team. We would love to chat and support your market expansion journey.”