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Punjab National Bank, IIT-Kanpur, FIRST be a part of arms to arrange Fintech Innovation Centre

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KOLKATA: Punjab National Bank has introduced an alliance with the Indian Institute of Technology (IIT), Kanpur and the Foundation for Innovation & Research in Science & Technology (FIRST) to arrange Fintech Innovation Centre that may act as a car to discover options in digital lending, funds and cyber safety.

The partnership will facilitate analysis and develop technological options to deal with challenges and discover alternatives within the BFSI area, the financial institution stated.

PNB intends to develop new merchandise or options with technological improvements with the assistance of IITK’s college members.

The financial institution will get entry to the pool of Fintechs incubated by IIT-Kanpur together with their revolutionary options.

The Fintech Innovation Centre might be supported by a holistic ecosystem of monetary establishments, academia, Venture Capital funds, expertise corporations and key authorities organizations.

“We need to provide omni-channel solutions to various segments of customers like Retail, Agriculture and MSMEs with forward and backward linkages,” stated PNB chief government SS Mallikarjuna Rao. “It’s important to ensure 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,” he stated.

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