Ericsson teams up with F.I.R.S.T at IIT Kanpur to drive innovation in Mobile Financial Services

Ericsson India has entered into a two-year strategic partnership with the Foundation for Innovation & Research in Science & Technology (F.I.R.S.T) at the Indian Institute of Technology (IIT) Kanpur to drive innovation in Mobile Financial Services (MFS) and Fintech solutions.

By leveraging Ericsson's global expertise and F.I.R.S.T's innovation ecosystem, the partnership aims to create groundbreaking solutions to address real customer needs.

Commenting on this partnership, Nitin Bansal, Managing Director at Ericsson India, emphasized, "Our collaboration with F.I.R.S.T at IIT Kanpur represents a significant milestone in Ericsson's commitment to fostering local talent and driving impactful solutions. By combining global expertise with local insights, we aim to lead the way in Mobile Money solutions, contributing to technological excellence and inclusive growth in India."

Ericsson's fintech platform, Ericsson Wallet Platform, enables telecom operators and financial service providers to offer fast, secure, personalized, and easy-to-use mobile financial services to their customers. With support for over 400 million registered mobile wallets, the platform processes 2.8 billion transactions valued at over $40 billion monthly.

The collaboration is poised to make meaningful contributions to the rapidly evolving financial technology landscape, driving economic growth and digital inclusion globally.

Prof. Ankush Sharma, Professor-in-Charge, SIIC, IIT Kanpur, said, "We are thrilled to embark on this transformative journey alongside Ericsson, leveraging our combined expertise to drive innovation in Mobile Financial Services. This collaboration not only exemplifies our commitment to fostering technological advancements but also underscores our dedication to empowering communities through inclusive solutions."