Ericsson and IIT Kanpur Partner for Mobile Fintech Innovation

Strategic Partnership: Ericsson and IIT Kanpur's F.I.R.S.T. collaborate to drive innovation in Mobile Financial Services (MFS) and Fintech solutions.

  • Strategic Partnership: Ericsson and IIT Kanpur’s F.I.R.S.T. collaborate to drive innovation in Mobile Financial Services (MFS) and Fintech solutions.
  • Market Insights: The partnership aims to identify emerging technologies and market trends to cater to genuine customer needs in the rapidly growing digital wallet market.
  • Global Expertise and Local Insights: With Ericsson’s robust Wallet Platform and IIT Kanpur’s technological ingenuity, the collaboration aims to lead Mobile Money solutions, fostering inclusive progress in India.

In a transformative partnership, Ericsson and IIT Kanpur’s F.I.R.S.T. join forces to drive innovation in Mobile Financial Services (MFS) and Fintech solutions. This collaboration aims to capitalize on emerging technologies and market insights to address genuine customer needs in the expanding digital wallet market, projected to surpass $16 trillion in transactions by 2028.

At the core of this initiative is Ericsson’s Wallet Platform, a robust system supporting millions of mobile wallets and processing billions of transactions monthly. By leveraging Ericsson’s global experience and IIT Kanpur’s technological expertise, the partnership seeks to lead Mobile Money solutions, contributing to inclusive progress and technological brilliance in India’s fintech ecosystem.

Michael Wallis-Brown, Global Head of Ericsson Mobile Financial Services, emphasizes the significance of this collaboration, highlighting Ericsson’s commitment to innovation and responsiveness to market demands in Financial Services. Nitin Bansal, Managing Director at Ericsson India, underscores the partnership’s milestone in nurturing local talent and fostering impactful solutions, aiming to lead the Mobile Money solutions space in India. Prof. Ankush Sharma from IIT Kanpur expresses excitement about the transformative journey ahead, emphasizing the commitment to driving innovation and empowering communities through inclusive solutions.