Nation’s leading public sector bank, Punjab National Bank (PNB), has announced an alliance with the prestigious Indian Institute of Technology (IIT), Kanpur & FIRST (Foundation for Innovation & Research in Science & Technology), to jointly establish the Punjab National Bank – IIT Kanpur Innovation Centre at the IIT campus.

Under this partnership, PNB and IIT Kanpur will set up a 'Fintech Innovation Centre (FIC)' as a vehicle to research and develop technological solutions to address challenges and explore opportunities in the BFSI space, the bank said in a statement.

he MoU was signed at the PNB Head Quarters, Dwarka, New Delhi, in the presence of Sh. CH S S Mallikarjunarao, MD & CEO of PNB and top officials from the Bank, IIT Kanpur & FIRST.

PNB intends to create new products or solutions with technological innovations by creating a FIC involving IITK's experienced faculty members with the help of FIRST, it said

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