Visakhapatnam: Demonetisation may have had troubled the general public, but has paved way for new innovations required in the financial transactions that is slowly turning digital and cashless in the country.
The city of destiny has turned a new leaf in the technology sector as Chief Minister N. Chandrababu Naidu inaugurated Fin-Tech Tower and Valley in the city to promote digital currency.
A three-storied building with a space of about three lakh square feet atop Hill No. 2 in IT-SEZ in Rushkonda will house the companies developing latest technologies in the financial sector.
The state government inked MoUs with top five companies — PayTM, Blocktrust, GMS Soluti-ons, Transaction Analysts and Knolskape. “This is the first-ever tower in the world that will help fintech companies to develop latest technologies related to digital payment applications, block chain, cyber security and Internet Of Things. The world is moving towards digital economy and transactions. Especially in India, it has become necessary after demonetisation,’’ the Chief Minister said. An advisory panel has been formed to guide and suggest the Fin-Tech Valley to meet the needs of the digital transactions.
“The main aim of the Fin-Tech Valley is to prevent cyber crime and hacking and form an integrated system apart from promoting digital economy and transactions.’’ Mr Naidu said, and added that this would be the fourth industrial revolution.
Earlier, he had interaction with the top CEOs of global companies and sought their cooperation for the development of the Fin-Tech Valley. They include Plankin Templetus Financial Ser-vices chairman Ashok Sethi, Bank of Baroda MD P.S. Jay Kumar, Cognizant IT Services group chief executive Chandrasekar R, HSBC global services head Subir Mehra, Brand Ridge managing director V. Lakshmikanth, South Asia Visa IT Services senior director Sunali Rohra.
Mouri Tech’s new office, a gloal provider of enterprises solutions and technology services, was also inaugurated at the IT Park. The new office will house Mouri Tech’s Centre for Innova-tion and Centre for Digital Excellence.
