Bangalore : 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 was held at the RBIH Office in Bengaluru, where leaders from both organizations, Dr. Lakshmi Jagannathan, CEO, IIIT-B IC and Mr. Aakarsh Naidu, Head of Fintech and Startups, RBIH, gathered to mark this pivotal moment. The MoU formalizes the partnership between IIIT-B IC and RBIH, combining their strengths to create a robust ecosystem for Fintech development. This agreement represents a shared commitment to enhancing the Fintech landscape, providing valuable resources, and fostering a culture of innovation.

Prof. Debabrata Das, Director IIIT Bangalore emphasized the importance of this MOU and opined that with the financial domain expertise of RBI coupled with the deeptech expertise of IIIT-B, fintech as well this initiative will be a clear differentiator.

Dr. Lakshmi Jagannathan, CEO of IIIT-B-IC, highlighted that this is a unique opportunity to strengthen the Fintech Innovation and Startup Ecosystem and IIITBIC is keen to lead from the front.

Mr. Rajesh Bansal, CEO of Reserve Bank Innovation Hub (RBIH) said “by leveraging IIIT-B’s and RBIH’s expertise in technology, innovation and research, we take a step towards creating a future-ready fintech ecosystem. This partnership is a testament to our shared commitment to driving impactful fintech solutions that meet the evolving needs of India’s diverse population and strengthen financial inclusion across the country.”