Author – Ritesh Ranjan: CIFIL’s next phase will combine industry-led research, student training and startup support to strengthen India’s digital financial ecosystem
IIT Madras and Computer Age Management Services (CAMS) have renewed and expanded their collaboration under the CAMS IIT Madras FinTech Innovation Lab (CIFIL). The partnership will focus on advancing financial technology research, supporting startups, developing industry-ready talent and creating practical solutions for India’s rapidly evolving banking, financial services and insurance ecosystem.
A new Memorandum of Understanding (MoU) was signed at the IIT Madras campus on 12 August 2026. CIFIL was originally established in 2022 through a collaboration between IIT Madras and CAMS under CAMS’ corporate social responsibility initiatives. The laboratory combines CAMS’ financial-services expertise with IIT Madras’ strengths in research, innovation and technology development.
New focus areas for CIFIL
In its next phase, CIFIL will work on emerging technologies and business models shaping the future of finance. The focus areas will include:
- Artificial intelligence in financial services.
- Digital payments and digital banking.
- Blockchain and tokenisation.
- Cybersecurity.
- Regulatory technology.
- WealthTech and InsurTech.
- Digital lending.
- Data analytics.
- Financial inclusion.
These areas are becoming increasingly important as financial services move online and customers demand faster, safer and more personalised products. According to IIT Madras, CIFIL’s research agenda will also explore accessible digital financial services for people with disabilities, including solutions that can better serve visually impaired users.
Research to market-ready solutions
The renewed partnership aims to expand CIFIL’s research portfolio and create intellectual property that can move from laboratories to real-world applications. The Lab will support technology transfer, proof-of-concept development and commercialisation of research-led solutions.
Mr. Anuj Kumar, Managing Director, CAMS, said CIFIL was created to bring together industry experience and academic exploration. He noted that researchers, students and innovators can question existing models and develop transformative ideas for the financial-services sector.
For industry partners, CIFIL provides access to IIT Madras faculty, researchers and technical expertise. Companies can collaborate on business challenges, evaluate emerging technologies, develop prototypes and undertake applied research projects.
Opportunities for students and startups
The partnership will provide students with direct exposure to the financial technology industry through research projects, internships, hackathons, expert interactions and startup mentoring. These experiences are intended to strengthen technical knowledge, research skills and entrepreneurial thinking.
CIFIL will also support fintech founders through technical guidance, faculty mentoring, industry networks, validation support and innovation challenges. Promising startups may be connected with relevant industry partners to test and develop solutions for real financial-services problems.
This combination of academic knowledge and industry access can help startups move more quickly from an early idea to a validated product.
Professional education programmes
CIFIL is expanding its talent-development activities through professional learning programmes, including a Professional Certificate Programme in FinTech and a Certificate Programme in Personal Financial Planning. These courses are intended for working professionals, entrepreneurs, researchers, students and aspiring fintech leaders.
The FinTech certificate programme covers areas such as AI, blockchain, digital payments, digital banking, cybersecurity, fintech regulation, InsurTech, WealthTech and emerging financial models. The six-month programme includes interactive online sessions, case studies and industry-relevant projects.
Participants who successfully complete the Professional Certificate Programme in FinTech and meet the academic requirements will receive a professional certificate from CODE, IIT Madras, through CIFIL.
Strengthening India’s financial future
Prof. V. Kamakoti, Director, IIT Madras, said the collaboration could accelerate the development of cutting-edge fintech solutions for Bharat’s financial ecosystem. Prof. M. Thenmozhi, Head of CIFIL, said the Lab aims to become a global centre for fintech innovation and help create ventures that address unsolved challenges in banking, financial markets and financial services.
With its focus on AI, digital payments, cybersecurity, research commercialisation and inclusive finance, the expanded CAMS-IIT Madras partnership could play a major role in shaping India’s next generation of fintech solutions.
Conclusion
The renewed partnership between IIT Madras and CAMS marks the next stage of the CAMS IIT Madras FinTech Innovation Lab’s efforts to strengthen India’s digital financial ecosystem. By combining academic research with industry expertise, CIFIL aims to accelerate innovation in artificial intelligence, blockchain, digital payments, cybersecurity, WealthTech, InsurTech and financial inclusion. The collaboration will also create stronger opportunities for students, professionals and fintech startups through research projects, specialised training, mentoring and industry engagement. With a focus on translating research into practical and commercially viable solutions, CIFIL could contribute significantly to developing the technologies, talent and ventures that shape the future of financial services in India.
FAQs
1. What is the CAMS IIT Madras FinTech Innovation Lab (CIFIL)?
The CAMS IIT Madras FinTech Innovation Lab, or CIFIL, is a collaborative initiative between IIT Madras and Computer Age Management Services (CAMS). Established in 2022, it focuses on fintech research, innovation, talent development, startup support and the commercialisation of technology-led financial solutions.
2. When was the renewed MoU between IIT Madras and CAMS signed?
IIT Madras and CAMS signed the renewed Memorandum of Understanding (MoU) on 12 August 2026 at the IIT Madras campus to expand their collaboration under CIFIL.
3. What technologies will CIFIL focus on in its next phase?
CIFIL will focus on areas including artificial intelligence in financial services, blockchain and tokenisation, digital payments, digital banking, cybersecurity, regulatory technology, WealthTech, InsurTech, digital lending, data analytics and financial inclusion.
4. How will the IIT Madras-CAMS partnership benefit students and startups?
Students will gain exposure through research projects, internships, hackathons, industry interactions and entrepreneurship opportunities. Fintech startups can receive technical guidance, faculty mentoring, industry connections, validation support and opportunities to develop solutions for real-world financial-services challenges.
5. What professional programmes are offered through CIFIL?
CIFIL is expanding professional education through programmes such as the Professional Certificate Programme in FinTech and the Certificate Programme in Personal Financial Planning. The FinTech programme covers topics including AI, blockchain, digital banking, payments, cybersecurity, regulation, InsurTech and WealthTech.