ICT

ITU to establish a FinTech Center with collaboration of DFSRG

ITU Information Technology University and Digital Financial Services Research Group (DFSRG) University of Washington (Seattle, USA) have made a contract and signed a MoU memorandum oof understanding to settle a instigate FinTech center in Pakistan.

Dr. Umar Saif, Vice Chancellor Information Technology University (ITU) along with Dr. Richard Anderson, Head DFSRG, and Professor, Department of Computer Science and Engineering, University of Washington signed this contract. The ambition of the research center is to take Pakistan forward in financial technology space by adopting digital financial services countrywide.

The key points of this contract will conclude in a coordinative research that will be streamlined in areas of fraud prevention, financial education, financial management, data analytics, cyber security, authentication, and customer experience studies in digital financial services. This FinTech center will help in promoting the digitization of Government-to-Person (G2P) and Person-to-Government (P2G) payments in Pakistan.

Dr. Richard Anderson said that it was the most newly collaboration in the World with Pakistan, whose extensions will literally involve Africans and other Asian countries. Concluding statement for Dr. Umar Saif elaborated that this center will facilitate the smartphone transactions and will certainly establish transparency in the system.

DFSRG is a research group at Washington University supported by the Bill and Melinda Gates Foundation. It aims to improve the abilities of banks and mobile operators by deploying Digital Financial Service (DFS) products and providing technological solutions.

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