NIUM Opens Innovation Lab to Help Encourage Innovation in Fintech

NIUM, one of the world’s largest Global Financial Infrastructure Platform providers today announced the launch of “BOLT”, its unique platform to boost innovation in the global Fintech space and help entrepreneurs speed their products/services to market.

The platform has been engineered to act as a regional hub for budding Fintech entrepreneurs as well as seed-stage start-ups. They can now build on NIUM’s success and benefit from its core infrastructure.

Designed as an intense 26-week collaborative program, BOLT, the R&D Fintech Hub, is a first-of-its-kind independent platform. It offers entrepreneurs unrestricted access to the business ecosystem of NIUM. Fintech entrepreneurs can leverage the opportunity to collaborate with NIUM and connect to its existing API stack.

At the heart of the BOLT program is a unique innovation ecosystem led by Nium’s high-density Fintech expertise and the full range of NIUM’s ‘Send’ (55+ countries via direct ACH coverage), ‘Spend’ (card issuance in 32+ countries) and ‘Receive’ (30+ countries via direct ACH coverage) capabilities. Entrepreneurs with an idea for the next big FinTech solution can now gain complete access to NIUM’s API network through BOLT.

Discussing the launch, Prajit Nanu, Co-founder, and CEO of NIUM said, “BOLT focuses on accelerating the translation of innovative ideas & concepts into tangible prototypes & products. We provide a truly independent platform with absolutely no predatory equity-in-lieu, or IP-in lieu, or even any lien on the future line of sight profits. Your success is yours alone, we are here only to enable your path to success.”

Co-located at NIUM’s global headquarters, BOLT offers world-class infrastructure spanning nearly 2,000 square feet of dedicated space in the heart of CBD, Singapore. Fully equipped with state-of-the-art infrastructure and amenities, BOLT’s vision is to be an enabler as well as a 360degree engagement and learning hotspot for fintech entrepreneurs.

Start-ups also benefit from BOLT’s location in Singapore - renowned globally as an international financial center with a pro-business environment that attracts businesses and start-ups from all over the world. The resultant pool of a highly skilled and cosmopolitan populace provides the perfect environment for cross-pollination of ideas and innovations.

BOLT provides other key components that most first-time entrepreneurs lack. These fundamental enablers of early-stage start-ups include resourcing and skillsets on UI / UX training, fundraising, and capital structuring as well as advise on the vast ocean of technologies available to enable quick time deployment.

BOLT enables start-ups scale-up rapidly by providing a ready platform for all the essential tools a Fintech start-up needs to grow rapidly. These include a ‘tinker-ready’ sand-box, API docs, an easy connection to a range of its platform APIs and co-location alongside the NIUM workspace ecosystem.

Prajit said, “As an entrepreneur, I have journeyed through successes, failures, and complexities of setting up a successful Fintech company. InstaReM, the first product of NIUM, took five years to establish its network which now spans over 100 countries. With BOLT, entrepreneurs can now focus on their innovative products and solutions alone.”

“We believe in optimizing business processes and shortening the timeframe between ideation and execution,” he added.

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