CAMS, IIT Madras launch Fintech Innovation Lab

CHENNAI: Computer Age Management Services Limited (CAMS), India’s largest registrar and transfer agent of mutual funds (a SEBI regulated entity) has announced its collaboration with IIT Madras to launch CAMS IIT-M Fintech Innovation Lab (CIFIL), to accelerate financial technology related innovations.

The lab is part of the CAMS CSR initiative to focus on ushering innovation and unravelling possibilities in the fintech space and aims to be a world-class hub for research and applied technologies in financial technology space.

The lab at IIT-M will develop research-based decision support systems to financial market players using fintech. The lab will see development of hi-tech solutions addressing the needs of the BFSI sector and will help develop innovative fin tech models to drive financial inclusion. It will establish an exclusive R&D cell to focus upon research leading to patents and developing algorithms for the broader use by capital markets and BFSI sector, as per a release.

Anuj Kumar, MD, CAMS, said, “Creating this opportunity to collaborate with IIT-M, an institute of eminence, is a reaffirming step of our commitment to leverage technology to solve industry problems in the areas of customer service, risk management and financial inclusion."

V Kamakoti, director, IIT Madras said, “Fintech is an ever-growing field with lot of grand challenges originating from the financial institutions, the regulators and the consumers. As IITM has started offering advanced courses in financial technology including a dual degree in quantitative finance, this fintech innovation lab will be in perfect synchronisation with our goals."