NPCI has forged a partnership with the Indian Institute of Science (IISc), Bangalore, for collaborative research on blockchain and artificial intelligence (AI) technology. The memorandum of understanding (MoU) entails the establishment of the “NPCI-IISc Centre of Excellence (CoE) for Deep Tech Research and Development”.
Vishal Kanvaty, CTO of NPCI, expressed enthusiasm about the collaboration, emphasizing its significance in advancing digital sustainability. The joint initiative aims to explore the potential of deep technologies like blockchain and AI in enhancing the payment landscape.
The partnership will focus on developing scalable blockchain platforms and implementing multi-modal analytics over fintech data. Faculty members from various departments at IISc will collaborate with NPCI researchers to address practical challenges in these areas.
Navakanta Bhat, Dean of the Division of Interdisciplinary Sciences at IISc, highlighted the partnership’s objectives, including fostering cutting-edge research, developing software prototypes, and facilitating professional development through workshops and training programs.
NPCI’s collaboration with IISc aims to tackle complex technological and engineering challenges, such as scalability, privacy-preserving designs, neural networks, graph AI, and large language models (LLM).
Additionally, Mumbai-based Fintech startup, Tech Fini, announced its partnership with NPCI to provide UPI 2.0 acquiring and issuing switch solutions to merchants. The startup obtained UPI 2.0 Issuer & Acquirer, PCI DSS, and ISO/IEC certifications from NPCI, affirming its commitment to creating a safe and flexible digital payment environment. Atish Shelar, COO of Tech Fini, emphasized their dedication to fostering financial inclusivity through innovative solutions and collaboration with stakeholders.
