NPCI Signs MoU with IIT Kanpur for Knowledge Sharing Research Collaboration
The Indian Institute of Technology (IIT), Kanpur and National Payments Corporation of India (NPCI) have signed a Memorandum of Understanding to share knowledge on innovative ideas and collaborate in the development of indigenous digital payment solutions.
The collaboration will also help strengthen cybersecurity controls for the products and services of NPCI and its subsidiaries. The MoU will precipitate a wide range of collaborative efforts between NPCI and IIT Kanpur.
Through this collaboration, prominent faculty members from the institute will host in-depth briefings and lectures for NPCI staff on cybersecurity and emerging trends in artificial intelligence (AI), machine learning (ML), security product roadmaps, and distributed ledger technologies (DLT). ). NPCI, on the other hand, will provide internship opportunities for IIT Kanpur students, providing them with invaluable experience of working on NPCI live projects. The domain-focused knowledge and expertise of IIT Kanpur academics will help NPCI rapidly execute the ever-changing demands of consumer-focused offerings.
Professor Abhay Karandikar, Director, IIT Kanpur said, “IIT Kanpur has been at the forefront of developing secure and innovative solutions for digital transactions and data storage. The institute houses the Hub C3i dedicated solely to the development of cyber security solutions and cyber physical systems. This collaboration with NCPI further reinforces our goal of creating a holistic cyber-secure ecosystem for our country. This association will not only bring together the best of both institutions in the development of a robust digital payment system, but will also pave the way for multidisciplinary research and opportunities.
Antony Prakash, Chief Information Security Officer (CISO) at NPCI, said, “At NPCI, we are committed to building a robust digital payment infrastructure and we are constantly creating innovative offerings for a seamless payment system. The combination provides a great opportunity for NPCI and IIT-K to develop advanced technical solutions that will provide customers with a premium, convenient and more secure payment experience. We believe this will usher in the development of a more refined digital payments ecosystem that will further ameliorate any potential bottlenecks in the system.
Professor Sandeep K Shukla, Professor, Department of Computer Science and Engineering, IIT Kanpur, and Joint Project Manager, C3iHub, IIT Kanpur said, “IIT Kanpur has paved the way for critical research and development in the cybersecurity and digital domain. data privacy for a long time. Over the past few years, several blockchain-based and other cybersecurity initiatives have been developed and executed by IIT Kanpur. However, many of them are multidisciplinary initiatives, and the need for such collaborations at present is very crucial. This association with NPCI is in the same vein and would guarantee to work towards the development of a more secure and holistic ecosystem in the field of digital payments and collaborative research initiatives.
The MoU will mutually benefit both parties through its knowledge-sharing nature and enable the building of better and safer digital payment products and services geared towards national interest and upliftment.