Bangalore: The International Institute of Information Technology Bengaluru Innovation Centre (IIIT-B IC) and the Reserve Bank Innovation Hub (RBIH) are pleased to announce the signing of a Memorandum of Understanding (MoU) to foster innovation and growth in the Fintech sector.
This collaboration aims to create a unified and robust ecosystem that accelerates the growth of financial technology through innovation, research and support for startups.
The MoU signing took place at the RBIH office in Bengaluru, where leaders of both organisations, Dr. Lakshmi Jagannathan, CEO, IIIT-B IC and Mr. Aakarsh Naidu, Head, Fintech and Startups, RBIH, came together to mark this milestone moment.
The MoU formalizes the partnership between IIIT-B IC and RBIH, combining their strengths to create a robust ecosystem for the development of Fintech. This agreement represents a joint commitment to enhance the
Fintech landscape, providing valuable resources and fostering a culture of innovation.
Professor Debabrata Das, Director, IIIT Bangalore, highlighted the importance of this MoU and opined that with RBI’s financial domain expertise coupled with IIIT-B’s deep technology expertise, fintech and this initiative will be a clear differentiator.
Dr Lakshmi Jagannathan, CEO, IIIT-B-IC, highlighted that this is a unique opportunity to strengthen the Fintech and startup innovation ecosystem and IIITBIC wants to take the lead.
Mr. Rajesh Bansal, CEO, Reserve Bank Innovation Hub (RBIH), said, “By leveraging IIIT-B and RBIH’s expertise in technology, innovation and research, we are taking a step forward towards creating a future-ready fintech ecosystem. This partnership is a testament to our shared commitment to deliver effective fintech solutions that meet the evolving needs of India’s diverse population and strengthen financial inclusion across the country.”