AU Small Finance Bank (AU SFB), the largest Small Finance Bank in India, has officially established a Memorandum of Understanding (MoU) with the Indian Institute of Technology (IIT), Jodhpur. The purpose of this agreement is to promote innovation and encourage collaboration in several areas of mutual interest. The focus of the MoU includes joint efforts in co-creation, design thinking, and innovation for enterprises. It also involves participating in open innovation cohorts alongside faculty and students, undertaking research and development activities, jointly advising students on their theses and projects, and engaging in various educational activities for mutual benefit.

The joint initiatives will encompass domains like startup/incubation centers, the digital transformation of the campus for financial services, fintech solutions, and the establishment of a Center of Excellence, among other pertinent areas. This collaboration is designed to build a vibrant ecosystem for innovation, research, and educational pursuits, harnessing the combined strengths of AU Small Finance Bank and IIT Jodhpur. The collaboration's scope is adaptable and subject to modification by mutual agreement to effectively tackle emerging challenges in the future.

Since its establishment in 2008 by the Ministry of HRD (Government of India), IIT Jodhpur, a leading institution in technology and education, has been instrumental in supporting industries and MSMEs for the last 15 years. The institute actively encourages emerging entrepreneurs, startups, and research students, aligning with the Make in India initiative. Adapting to the evolving trends in the industry, IIT Jodhpur has introduced new undergraduate (UG), postgraduate (PG), and research programs in diverse subjects such as Artificial Intelligence, Data Science, Sensors, Management and Technology, Computational Science, Digital Humanities, Fintech, and Cyber Security.

On this strategic partnership, Mr. Uttam Tibrewal, Executive Director, AU Small Finance Bank, said, "We are delighted to partner with IIT Jodhpur, a prestigious institution known for its commitment to excellence in technology and education. This collaboration aligns with our vision to promote innovation, research, and educational initiatives. This strategic partnership is poised to make significant contributions to technology, entrepreneurship, and fintech, bringing about a transformative impact on both institutions and the broader community".

Rishi Dhariwal, Group Head Liability, AU Small Finance Bank said, "At AU Small Finance Bank, we believe in building a technology-led Bank, and to achieve this, we’ve strategically infused our team with some of the finest tech talent. In our pursuit of excellence, we’ve expanded our resources across Product Design, Engineering, and Data Science, ensuring a diverse and vibrant pool of expertise. Our approach is characterized by a strong academic foundation, top talent acquisition from premier institutions, and a dynamic workforce with over 100 recent hires from esteemed institutions like IITs, IIMs, and BITS through campus placements. Today, this collaboration with IIT Jodhpur aligns seamlessly with our ethos, and we look forward to a transformative journey together".

IIT Jodhpur boasts a sprawling permanent campus covering 852 acres, buzzing with more than 4,500 students and over 500 faculty and staff members. The curriculum is specially crafted to enable students to actively engage in comprehending the swiftly evolving technological landscape, aligning with industry requirements. The institute has consistently ascended in national rankings, securing the 30th position in the National Institutional Ranking Framework (NIRF) in 2023.