The bank has announced a pact with IIT-Bombay and IIT-Roorkee as part of the industry-academia partnership effort.
“The objective is to identify potential fintech ideas at incubation and entrepreneurship cells in these institutes at a nascent stage, and help them evolve into a consumer-ready product,” said the bank in its official communiqué.
The bank further said that it is going to partner with 50 institutes in the first phase of this initiative. Through this platform, the bank is going to use its expertise to mentor start-ups to enhance customer experience in less time along with cost efficiency.
The start-ups will get an opportunity to test their ideas for real via the bank’s platform along with expert insights and knowledge.
“We’ve always believed exchange of ideas and knowledge breeds culture of innovation. The CODE Industry Academia is another major step in that direction, and will take the culture of innovation in the country to the next level,” Nitin Chugh, Country Head, HDFC Bank.