CAMS and IIT Madras launch Fintech Innovation Lab

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 premier research institute, 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 & unravelling unique possibilities in the Fintech space and aims to be a world-class hub for research and applied technologies in financial technology space.

The Fintech Innovation 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. The lab 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.

Speaking on the launch of CAMS IIT-M Fintech Innovation Lab, Mr. Anuj Kumar, Managing Director, CAMS Limited 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 & financial inclusion.

In our efforts to further accentuate the industry-academia partnership and build a progressive arm that dedicates to the development of the overall fintech sector, CAMS is delighted to partner with IIT Madras to set up the R&D lab. This center will pave way for supporting fintech research and building solutions leveraging emerging technologies and would cross-cut various disciplines in the financial services sectors".

"This CSR initiative will also create an active start-up ecosystem associated with IITM for more applied research and industry interactions. The Lab aims to do so in an inclusive manner by creating initiatives and activities open to other institutes, industries, and members of society," further added, Mr. Kumar.

Commenting on the collaboration, Prof. 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 synchronization with our goals."

The lab will look at championing the adoption of best practices in finance sector processes and applications and accelerate Fintech related innovation. The cutting-edge research carried out in the lab will also encourage entrepreneurial activities in the area.

Shares of Computer Age Management Services Limited was last trading in BSE at Rs. 2170.45 as compared to the previous close of Rs. 2249.30. The total number of shares traded during the day was 6749 in over 1206 trades.

The stock hit an intraday high of Rs. 2249.30 and intraday low of 2152.85. The net turnover during the day was Rs. 14746129.00.

Source : Equity Bulls

Keywords

ComputerAgeManagementServices INE596I01012 CAMS IITMadras FintechInnovationLab