TVS Credit and IIT – Madras signs MoU to set up Innovation programs

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Mumbai: TVS Credit Services Limited and the Indian Institute of Technology Madras (IITM) signed a Memorandum of Understanding (MoU) to design and boost innovation programs and carry out joint research activities. This partnership acquires significance as TVS Credit – one of the fastest-growing NBFCs in the country, and IITM- a symbol of excellence in academia are coming together to collaborate on Innovation programs, provide training, research and consultation to young professionals. The collaboration would bring together academic stalwarts and professionals who would jointly design, develop and deliver cutting edge technology projects, research and embark on consultation in the areas of management and financial inclusion.

This partnership aims to provide Technology solutions in the space of Fintech and Data Science. Under this alliance, both organisations will explore opportunities for undertaking joint research projects and formulate academic activities such as short courses, seminars, workshops and conferences. This effort would create a seamless ecosystem between industry and academia for leveraging analytics & technology.

Speaking on the collaboration, Venkatraman G, Chief Executive Officer, TVS Credit, said, “The future of technology in financial services is an exciting space to participate in, with an institute like IIT Madras. Also the importance of skilling and upskilling is more acute than ever before. With exponentially increasing digitalization, the young and bright minds need to focus on new skills that will enable them to provide innovative solutions and thereby help in the growth of our organisation.”

Speaking on the collaboration, Prof. Ravindra Gettu, Dean, IC&SR – IIT Madras, said, “We are happy to join hands with a leading market player like TVS Credit. Partnerships such as these help in creating practical and innovative solutions that can have a lasting impact. We look forward to working together and achieving mutually beneficial outcomes.”

One of the key beneficiaries of this initiative will be the employees of TVS Credit, as the innovative solutions and skill training will hold a strong potential to revolutionise the industry at large. This partnership aims to provide scholarships for young minds as well. By using the skills, the NBFC sector can improve resource efficiency and productivity. In addition, this collaboration will drive the advancement of research and development.