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.
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.