Information Technology University (ITU) signed a Memorandum of Understanding (MoU) with Digital Financial Services Research Group (DFSRG) University of Washington (Seattle, USA) to launch first FinTech center in Pakistan.
The aim of the research center is to help Pakistan in financial technology by providing digital financial service. According to the agreement signed, research will be conducted in cyber security, fraud prevention, authentication, financial education, data analytics, financial management and customer experience studies in digital financial services.
At the moment of signing agreement, Dr. Richard Anderson said,
“It was the first ever collaboration in the World with Pakistan, which will be extended to the Africans and other Asian countries. Dr. Umar Saif stated that it would facilitate the Smartphone transactions and establish transparency in the system.”
Bill and Melinda Gates foundation is supporting the DFSRG research group which provides banks and mobile operators by Digital Financial Service.