Punjab National Bank has partnered with IIT Kanpur and the Foundation for Innovation & Research in Science & Technology (FIRST) to set up a ‘Fintech Innovation Centre (FIC)’ at the institute’s campus. PNB and IIT Kanpur will jointly work to set up this innovation centre as a vehicle for research and development of technological solutions, with the help of FIRST, to address challenges and explore opportunities in the Banking, financial services and insurance (BFSI) space.
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About the agreement:
- PNB intends to create new products or solutions with technological innovations by creating an FIC involving IITK’s experienced faculty members with the help of FIRST.
- The collaboration of technical prowess from IIT Kanpur and financial expertise of PNB makes it an apt “Fin-Tech” partnership that will help build innovations and entrepreneurial excellence.
- The FIC will be supported by a holistic ecosystem of financial institutions, academia, VC funds, technology companies and key government organisations.
Important takeaways for all competitive exams:
- Punjab National Bank Headquarters: New Delhi.
- Punjab National Bank CEO: S. S. Mallikarjuna Rao (1 Oct 2019–).
- Punjab National Bank Founded: 19 May 1894, Lahore, Pakistan.
- Punjab National Bank Founders: Lala Lajpat Rai, Dyal Singh Majithia.
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