This collaboration aims to create a unified and robust ecosystem that accelerates the growth of financial technology through innovation, research and support for startups.
NEW DELHI: International Institute of Information Technology (IIIT) Bengaluru Innovation Centre (IIIT-B IC) and Reserve Bank Innovation Hub (RBIH) have signed an agreement to foster growth and innovation in the Indian financial technology (Fintech) sector.
The collaboration was formalised at a ceremony at the RBIH office in Bengaluru. The event was attended by senior executives from both institutions, including Lakshmi Jagannathan, CEO, IIIT-B IC, and Aakarsh Naidu, Head of Fintech and Startups, RBIH. According to the official press release, the agreement brings together IIIT-B IC’s strengths and RBIH’s expertise in financial domains to create a robust ecosystem that accelerates innovation, research and support for startups in the fintech space.
Fostering innovation in the fintech sector
Debabrata Das, Director, IIIT Bangalore, highlighted that the collaboration between the two organisations would be a differentiator in the fintech space. The agreement represents a combined effort to enhance the fintech sector in India by providing resources to startups and fostering a culture of innovation. Lakshmi Jagannathan, CEO, IIIT-B IC, highlighted that this partnership offers a unique opportunity to enhance fintech innovation and the startup ecosystem, with IIIT-B IC keen to play a leading role.
Focus on financial inclusion
Rajesh Bansal, CEO, RBIH, said the partnership aims to create a future-ready fintech ecosystem by leveraging the expertise of both institutions in technology, innovation and research. He stressed that the collaboration will contribute to financial inclusion across the country by catering to the needs of the growing fintech sector.
Bansal 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 delivering effective fintech solutions that meet the evolving needs of India’s diverse population and strengthen financial inclusion across the country.”
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