New Delhi: Roinet has signed a three-year agreement with IIT Delhi’s Foundation for Innovation and Technology Transfer (FITT) to develop artificial intelligence (AI)-driven solutions for financial services.
The collaboration aims to enhance financial accessibility for underserved communities and small businesses by integrating AI and machine learning (ML) into digital financial services.
Key Areas of Development
The partnership will focus on building AI-powered tools for financial inclusion. The key projects include:
AI-driven underwriting system for lending aimed at improving credit assessment for small businesses and individuals.
Automated grievance redressal chatbot to enhance customer support efficiency.
Intelligent travel and ticketing platform, integrating digital payment solutions.
Advanced audio/video communication platform to improve accessibility for users in remote areas.
IIT Delhi will contribute research expertise in AI and ML, while Roinet will provide financial and infrastructural support. The collaboration will involve students and faculty members in real-world AI applications, bridging the gap between academia and industry.
Industry-Academia Collaboration for Financial Inclusion
The use of AI in financial services has gained traction as institutions explore ways to improve digital lending, customer support, and transaction efficiency. By combining research with practical implementation, the initiative aims to create scalable financial solutions tailored for underserved segments.
Sameer Mathur, Managing Director of Roinet, emphasized that the partnership will help in developing AI solutions that cater to the unique financial needs of rural and small business communities. Nikhil Aggarwal, Managing Director of FITT, noted that the collaboration will apply AI research to real-world financial challenges, strengthening industry-academic ties.
As AI adoption in financial services grows, such collaborations highlight the role of technology in driving financial inclusion and digital transformation.
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