Context:
Kerala Bank, in collaboration with the Kerala Startup Mission (KSUM), has launched a FinTech Innovation Zone to promote digital innovation in cooperative banking. The initiative was inaugurated by Chief Minister Pinarayi Vijayan during an IT Conclave organized by Kerala Bank.
Key Highlights:
| Aspect | Details |
|---|---|
| FinTech Innovation Hub | A 1,000 sq. ft. hub to be set up at Kerala Bank’s IT Department, Kakkanad (Kochi). |
| Startup Support | Cohort-based FinTech Accelerator programmes to identify and nurture promising startups. |
| Co-Creation | Development of digital banking solutions tailored for Kerala Bank and cooperative banking sector. |
| Role of KSUM | Kerala Startup Mission (KSUM) will handle: – Setting up the hub – Designing accelerator programmes – Incubation and technical advisory – Investor relations – Access to funding schemes (innovation grants, seed loans) |
