IIT will protect digital payments from cyber attacks, financial transactions to become more secure

Updated: Indian Institute of Technology (IIT) Kanpur will help protect digital payments from cyber attacks. Digital transactions will become more safe. A system like this will be developed on indigenous technology, so that people can make digital payments in an easy and secure way. An agreement has been signed between IIT Kanpur and National Payments Corporation of India (NPCI) for development of this system and technology.

The MoU will also help in enhancing cyber security controls for products and services of NPCI and its subsidiaries. Experts from the Institute will be set up for conducting informative sessions and deliver lectures for NPCI personnel on Cyber Security and present new trends in Artificial Intelligence (AI), Machine Learning (ML), Security Product Roadmap and Distributed Ledger Technology (DLT).

NPCI, on the other hand, will help with more internship opportunities to the students of IIT Kanpur, which will provide them the much needed experience of working on live projects of NPCI. IIT Director Prof. Abhay Karandikar said that IIT Kanpur has been at the forefront of developing secure and innovative solutions for digital transactions and storage of data. The institute has CTHRI Hub, which is developing full-fledged cyber security solutions and cyber physical systems.

This collaboration with NPCI will further be strengthened a cyber secure ecosystem for the country. Antony Prakash, Chief Information Security Officer (CISO), NPCI said that NPCI is committed to building a robust digital payments infrastructure. Innovative technology is constantly being developed for a seamless payment system.

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