The IIT claims that the centre will "research and develop technological solutions to address challenges and explore opportunities in the BFSI space". The Bank will get access to the pool of Fin-Techs incubated by IIT-Kanpur along with their innovative solutions.
The Indian Institute of Technology (IIT), Kanpur will set-up a fintech innovation centre at its campus in partnership with the Punjab National Bank (PNB).
The IIT claims that the centre will “research and develop technological solutions to address challenges and explore opportunities in the BFSI space”. The bank will get access to the pool of Fin-Techs incubated by IIT-Kanpur along with their innovative solutions.
“The Fintech Innovation Centre will be supported by a holistic ecosystem of financial institutions, academia, venture capital funds, technology companies and key government organisations. Planned focus areas include fintech, digital lending, payments, cybersecurity, etc,” the official notice stated.
CH S S Mallikarjunarao, MD & CEO, Punjab National bank said, “This shall provide an opportunity to the start-ups and Fintech companies incubated by IIT Kanpur to develop technological solutions for Punjab National Bank and financial ecosystem. We need to provide omni-channel solutions to various segments of customers like retail, agriculture, MSMEs etc. with forward and backward linkages. It is important to ensure the last mile connect and Turn Around Time (TAT) in satisfying the customer requirements through digital or physical touch-points at every link. The fintech players and startups can participate in developing customer-facing technology solutions to extend the link between customer and bank through peripheral solutions, open banking etc.”
Prof. Amitabha Bandyopadhyay from IIT-Kanpur, said with the establishment of PNB-FIC at IIT-Kanpur research will be undertaken in Fintech related neo-technologies for developing advanced solutions for the Bank.
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