Innovation Carnival Overview

The year 2017 was the advent of Technological transformation in financial services. In 2019 there will be more collaboration between FinTech (financial service startups) & Banks. It will blur lines between traditional products (retail, payments & insurance in particular), and the acceleration of the convergence of technologies including improved Customer Experience, Conversational banking, Artificial Intelligence, Mobile, Blockchain, IoT, Robotics, Automation and Security. Banks will evolve more Mobility & Digital to provide an seamless Ecosystem to Customer.

This is an initiative to promote the development of financial technology for DCB Bank and its customers with help of Fintech. We look forward for innovations in Lending, Risk management, Trading, Investing, Big-Data, Retail banking, Regulatory compliance, Mobile payments, Security and Enterprise social.

Carnival Activities

Pitch Day-1

Pitch Day

The pitch day will empower entrepreneurs to showcase their ideas in front of investors and mentors and grab themselves a chance to get funded


Top 50/25 Industry 4.0 Awards

A chance for startups and mentors to grab an award for their entrepreneurial enthusiasm and breakthrough idea.

Innovation Expo-1

Innovation Expo

Selected startups will stand a chance to showcase themselves at innovation expo 2019 to thousands of visitors who can be their prospective clients or vendors

Start-Up Graduation Program-1

Start-Up Graduation Program

A systematic program which helps startups to grow. An opportunity for startups to have a systematic guideline to build their products & solutions.

Startup Research Program-1

Startup Research Program

An intensive 6-month Innovation research program designed to find and support potential startups.

Corporate Innovation-1

Corporate Innovation Discovery

A pool of major nationwide Accelerators & Tech companies. A platform for demonstration and shortlisting of India’s 50+ Best Fintech, AgriTech, HealthTech, EdTech & IoT startups.

Sustainability Innovation-1

Sustainability Innovation

Sustainability focuses on meeting the needs of the present without compromising the ability of future generations to meet their needs. Sustainability is a balancing act. The United Nation’s 1987 Report of the World Commission on
expand in scope.

Mastermind Program-1

Mastermind Program

One of a kind programs designed for mentors to help guide startups on various factors right from business model to solution architecture.

Startup talks-1

Startup Talks

An effort to provide a platform to the startup founders to showcase their success story and inspire others to grow big.

Financial Literacy-1

Financial Literacy Programs

A deeper understanding of the finance sector and the way the industry is shaping. A clear focus to bring out industry developments and disruptive ideas.

Academia Talks-1

Academia Talks

Our esteemed mentors and innovators will get in touch with students across various colleges and deliver an interactive session on the future of technology. An inspiration to the students who wish to embrace the entrepreneurial journey.


Customer acquisition in banking doesn’t have to be complex or costly ; Customer acquisition in the banking sector: a quality Customer experience can be a key lever for retaining customers. To stay competitive in the midst of this digital disruption, retail banks and financial institutions need to find new ways to acquire customers. It’s imperative to sell to those most likely to buy, turn every digital touch point into a marketing opportunity, and provide a visually compelling experience across channels.

A digital-only bank provides banking facilities exclusively through digital platforms, such as mobile, tablets, and the Internet. It offers basic services in the most simplified manner, with the help of electronic documentation, real-time data, and automated processes. To look towards the future of banking, it’s vital we understand. Despite the growing preference for digital banking channels, branch banking is far from obsolete, digital technology holds the key to the branch of the future.

Banking and Financial institutions require localization solutions which offer security of their confidential data and deliver accurate content. With a blend of global language and digital marketing services, Bank will connect your words to the right people, in the right language, on the right …We need to reach-out & explain the range of products & services to the new rural customers, first- time bank account or policyholders & the new internet users.

Evolving SME needs and advances in technology have led to dynamic changes in the SME Banking industry. The path from start-up to corporate is no longer linear. The banking needs of small and medium enterprises (SMEs) are changing dramatically, and the banks’ responses need to evolve accordingly. Digital is at the heart of the next wave of SME banking services.

Significantly untapped latent potential: India’s insurance industry has witnessed rapid growth during the last decade. A series of changes in the Indian Insurance sector have made it more customer-centric and transparent as India looks forward to cloud ready ; The evolution of India’s insurance sector holds great promise for customers and the entities that operate within the industry.

With UPI , AEPS coming on the way it becomes important for banks to have a robust reconciliation. Banks are facing the challenge of not having a standard reconciliation solution in place. The existing solutions are either outdated or lack standardization. Bank is thus looking for a robust and flexible solution for all their transactions/payments/remittances etc.

A sustainable solution is the future now. An ever-increasing need for innovation to aid agriculture and water support sustainability that can reduce the misuse of the natural resources and play a vital role in economic development.

India has lots of potential to work on Lending Models. This is a line of business for a bank. How can your solution help to produce a optimised framework to lend money? Let’s build simplified process of lending and borrowing

Every second we perform 40,000 search queries every second, which makes it 3.5 searches per day and 1.2 trillion per year. The financial services industry has a vast reservoir of data on their customers, but is in the infancy stage of utilizing this data for financial or competitive gain.

Blockchain can become a disruptive force that can bring the entire Banking, Financial and Payment industry together. Build innovative solution using Blockchain for FI/Payment industry that can lead to more accountability, less fraud, less dispute, faster settlement, smart assets, contracts, storing and verifying digital identity etc.

The fintech sector is using computer vision to boost growth, transforming financial services by using appealing visuals and help accentuate the difference between fintech and the traditional finance industry.

Cloud computing can help with customer fraud management with a secured environment. It significantly increases the speed at which data is transmitted. It also aids in faster development and services.

This is the need of time with the growing Transactions. So much penetration of applications and we can’t imagine how users are increased over mobile applications, Social Media, Payments etc. areas. Eye on the Cyber Security of the country will be key in the upcoming years.

Data Strategy is driven by your organization’s overall Business Strategy and business model. A Well-Developed Data Strategy has: A strong Data Management vision.

Analytical models are developed by banks to predict customer behavior, better understand their preferences, proactively manage the overall business. A clear data strategy around these three pillars would help banks identify the gaps and prioritize the initiatives aimed to improve the use of data.

A large segment of the Indian consumer doesn’t have access to traditional online payment instruments such as debit and credit cards. Bank is looking for a robust (offline/online) payment solution to bring convenience of Payments/eCommerce to the unbanked population.

Robo-advisors (also spelled robo-adviser or robo advisor) are digital platforms that provide automated, algorithm-driven financial planning services with little to no human supervision ; robo-advisors have a huge potential to shape the future of the financial advisory industry ; Robo-advisors, micro investment services, portfolio management tools—many consider wealthtech a real game changer. ?

The Banking industry is aware of the power of social media, it gives the customers a voice and enables the banks to connect and reach out to far more customers than traditional channels, but currently, banking activities on social media are limited to marketing products, engaging customers & providing support.

India’s biometrics market is projected to grow & since last 2-3 years India biometric market to rise industrialization and presence of a large number of leading private sector companies in the region. Government, banking & finance, energy & power, and consumer electronics are the key end user segments where deployment of biometric systems is witnessing an increase, and this trend is expected to continue over the next five years. Current Trends, Market Trends & Developments IS Growing Usage of Multimodal Biometric Authentication Systems, Growing Adoption of Biometrics in e-commerce, Increasing Penetration of Biometrics in Banking Sector .New Biometric Technologies to Strengthening Security This will be a potential area to explore

Voice-enabled digital assistants are helping the banks in understanding and building better relationships with their customers. In the future, the majority of the users will move away from clicks and swipes to voice interactions in lieu of better user experience.

GIS can help in banking sectors various functional areas by providing support in decision-making and strategic planning of the Business and consumer. Effective resource management and operations management can possible by adopting GIS in banking sector.

In future, we will see more of connected “Things”. We have seen Desktops, Laptops, Mobile Adoption culture for payments services. Next Big thing will be Internet of Things. Push the boundaries of innovation, reality and technology to create IoT based Payment concepts and solutions that can change the world for the better.

Create engaging and interactive renditions for virtual reality (VR), augmented reality (AR) and mixed reality (MR) technologies. AR and MR’s usage of data layers on top of the real world is a preference for some, while creating fully-rendered VR worlds are the visual experiences preferred by others. The suggested technological solutions will aid the industry to grow better.

A new wave of mobile technology solutions, including mobile banking apps that turn any smartphone into a fully operational personal bank, is sweeping through the banking industry. With cash transfers between mobile phones increasingly becoming a reality, mobile banking could soon become as commonplace as Internet banking.

The banking humanoids are able to do most things a human assistant could, including opening accounts, transferring money and making investments.

Open banking is a system that provides a user with a network of financial institutions’ data through the use of application programming interfaces (APIs). The Open Banking Standard defines how financial data should be created, shared and accessed. … Open banking is also known as “open bank data.” Open Banking APIs are valuable assets for financial services firms, as they enable them to enhance their service offerings, improve customer engagement, and build new digital revenue channels. Open Banking is one of the most exciting developments in financial services for years, with the potential to revolutionise how consumers engage with BFSI

A regulatory sandbox is a regulatory approach, typically summarized in writing and published, that allows live, time-bound testing of innovations under a regulator’s oversight. RBI’s fintech sandbox allows startups to test out new financial products in realtime with limited regulations. The Reserve Bank of India (RBI) on issued the final framework for regulatory sandbox in order to enable innovations in the Banking Domain

Artificial management is quickly becoming an integral part of many growing businesses. It can revolutionize the sector by providing information on customer support, better advertising for targeted customers and aid in better staffing needs.

Right Architecture & Right Development methodology defines the growth of any Organisation

DevOps Tools, API Management, Enterprise Service Bus , Agile Methodologies are bring next level delivery experience . We wish to explore best practises around Enterprise wide engineering practices

It is important that the human develop alongside the environment is taken care off and not damaged. With the focus on water, food and shelter sustainability, technology and platforms can help create a better sustainable development.

This is on top of every Bank. DCB is among the top 12 Banks in best Customer Service. To ensure a truly effective customer experience, banking institutions must also change the way they communicate with customers. Since contact with the customer can no longer (only) take place through traditional contact points, the bank must use new channels.

Smart Village, Rural FinTech solutions – 27% of India use Internet, There is less of connectivity

There are many challenges to overcome. While there is some progress to overcome these challenges, can we build smart cashless villages? Let’s build an intelligent Payment solution to facilitate and encourage going cashless and paying digitally for utility bill payments, transport, public facilities, shopping and entertainment. Let’s build banking experience with Renewable Energy & relevant initiatives in India

Voice Assistant Transforms the Journey of Banking, Financial and Insurance Industries ; With 6 billion smartphone users and 51 percent of the world’s population being internet users, the impact of digital technologies on customers has increased significantly. The internet age is one where customers are empowered to shape their own journeys. This belief of “service delivery experiences” driving the modern industrial revolution has brought in the slogan “experience-as-a-service.” Such is the disruption digital customers have brought to BFSI industries. With the rise in AI-powered voice-enabled conversational system’s – voice assistants – success in conducting conversational commerce in a natural voice way, gave a ray of hope for the BFSI industry to address their hard-hitting challenges due to legacy systems and practices. ( Real Conversation in Natural Language ) Consumers are increasingly making voice capabilities a central part of their mobile and home-based interactions. As a result, it is time for organizations to integrate voice-first technologies into consumer acquisition, sales, service and digital customer experience strategies.

Banking is a big responsibility for most everyone and being able to build a chatbot relationship to do it is the way of the future. Customer interaction and channels preferences have experienced significant changes over time and are constantly evolving and expanding ; Chatbots Can Improve Customer Experience In Banking. … A chatbot is a piece of software that can have a conversation with a person. They listen and respond with relevant information. There are digital assistants that are voice activated, and there are chatbots, voice or text activated.

AR and VR play an integral role in bringing products, solutions and services from digital platforms into the hands of customers.Hundreds of millions of mobile devices will have augmented reality (AR) capabilities by the end of 2020 ; Can virtual reality make banking more engaging?

Smart Village, Rural FinTech solutions – 27% of India use Internet, There is less of connectivity

There are many challenges to overcome. While there is some progress to overcome these challenges, can we build smart cashless villages? Let’s build an intelligent Payment solution to facilitate and encourage going cashless and paying digitally for utility bill payments, transport, public facilities, shopping and entertainment. Let’s build banking experience with Renewable Energy & relevant initiatives in India

India’s biometrics market is projected to grow. Government, banking, finance, energy, power, and consumer electronics are the key end user segments where deployment of biometric systems is witnessing an increase, and this trend is expected to continue over the next five years.

Administration is Support function and vital Function for Banks ; Branch Transformation , ATM Management , Office Space Management ; This has evolved drastically with the rise of Technology. Let’s build robust Administration with Technology

Fraudsters are becoming increasingly sophisticated and more efficient in identifying and exploiting vulnerabilities. Existing fraud risk management tools are using traditional technology and have abundant silos of information which are prone to fraud risk. Bank is looking for an advanced analytics/AI based solution to manage these fraud risks

The onboarding experience can define the ongoing relationship the customer has with the organisation ; Emerging new technologies are revolutionizing how financial institutions conduct client onboarding procedures across their organizations

Branch Transformation will be a key to success key where we can see traditional branches can be transformed digitally for best customer experience & cost optimisation. How can you free your branch staff from handling traditional transactions to focus on meaningful, more profitable customer conversations? Redefine the Branch Experience Retail banking is changing in unprecedented ways but the importance of the branch remains constant

Investment into cold-chain logistics has been a crucial component of the Government of India’s doubling farm income strategy. Through multiple efforts in market and policy, cold-chains have been gaining support and in the next few years installation will increase at a faster pace. A lack of information to farmers and inadequate supply-chain management, hinders access to better markets, which could increase selling prices by as much as 4 – 5 times. The adoption of clean and energy efficient technologies for cold-chain will be crucial to meet the requirements for the energy transition and simultaneously maximise the benefits to farmers. Challenges under the infrastructure development includes: i) Limited capacity for storage at farm gates; ii) Lack of adequate/ continuous power supply; iii) Inadequate knowledge and skills to carry out processes efficiently to ensure productivity and financial viability, hindering access to better markets.

Water stress is a common threat in the emerging economies. Economic and social development of countries like Mongolia for example, depend on the groundwater management in more ways than one. Specific to the desert regions of Southern Gobi as well as the urban habitat in larger cities like Ulaanbaatar (over 50% of country population), the groundwater as a resource is of importance. Managing the water stress in such regions needs to start with understanding the current groundwater levels and predictive analytics of the expected water stress in short, medium and long-term. Based on an initial data of over 100 observation wells available with the project teams in Mongolia, the challenges identified in this theme are i) model groundwater levels as a function of climatological attributes (rainfall, evapotranspiration rates, permanent and migratory population, ambient temperature swings to name a few), ii) identify metering anomalies using machine learning techniques (supervised and unsupervised clustering or other relevant algorithms), iii) predications of groundwater table, vulnerability and policy imperatives.

Textile industry sector is of particular importance to certain economies that are an intrinsic part of apparels value chains. Quantity and quality of water use, its consumption and recycle/reuse is important to protect the sectoral growth, decouple the water stress and productivity, reduce factors costs of production – all of above leading to exemplars of circular economy. Challenges identified in this theme are: i) Create a robust IoT data metering and cloud computing architecture, ii) identify metering anomalies using machine learning techniques (supervised and unsupervised clustering or other relevant algorithms), iii) real-time data capture of fresh wateruse, production, economic value created or lost and predictive analytics as a decision-making effort, iii) Online dashboard visible to the global textile and apparel/footwear buyers and the supply-chain actors.

Government of India and states in India have a specific emphasis on empowering women farmers that constitute a predominant part of farming workforce. While specific subsidies are directed at water conservation measures and other support in the farm-lands, a well-crafted process of direct benefits transfer, tracking of farm-subsidies, on-farm waster conservation assets management (Micro-Irrigation Systems) and predictive analytics projecting agri-water productivity and income to the women farmers would be useful for all stakeholders. Challenges identified in this theme are: i) Development a robust data capture and software architecture that embeds within itself existing and prospective DBT structures, ii) Establish links with the current interfaces used in the DBT structures, iii) Bank/FIs-agnostic tool to be used in different states and commodities.

Who Can Participate?



Entrepreneurs & Aspiring Entrepreneurs be a part of this event to validate your idea and create an initial prototype. If your idea and prototype is getting selected, then you will get access to the few customers, APIs and lot more to make your idea a market ready product.

Domain Expert

Domain Expert

If you are a Domain Expert, then this is your platform to showcase your knowledge, ideas and experience. You will also get an opportunity to find technical team to develop and support from DCB to convert your Idea into reality.



If you are a Developer, then this is your opportunity to make an impression and be recognized by the industry leader. You will meet domain experts and their domain knowledge along with your technical knowledge can create wonders for bot of you.



If you are a Student, then this is an excellent opportunity to showcase your knowledge and skills to the industry leader.

Why Participate?


Program Duration

A four months acceleration program plus eight months support for 10 startups.



A chance to get your startup funded by DCB Bank/ DevX on the demo day. The investment amount can be between INR 15-25 Lacs for equity of 8-12%.



The selected startups at DevX Mumbai office along with free workspace for up to 4 member work team. After the acceleration period, seats will be provided at discounted rates.



Active mentoring by the DCB Bank senior member team along with industry experts and advisors to refine your product and make it market-ready.



Selected startups can be a vendor to DCB and other ecosystem partners


IT Support

API, Sandbox and Cloud credits from our ecosystem partner AWS, Microsoft, Google and IBM.


Other Support

Legal, Digital Marketing services at discounted rates for the startups within the acceleration period.


International Opportunity

Selected startups get a chance to present their product and pitch their idea internationally.

Judging Criteria


Technical Approach

Technical Approach


User Interface

User Interface





Business Value

Business value to Bank


Unique Idea / Innovation

Adoption of solution

Adoption of Solution

Rewards and Recognition

Contact us