IIT Delhi partners with Roinet to develop AI-driven financial services for small businesses, communities

NEW DELHI: Indian Institute of Technology Delhi’s (IIT Delhi) foundation for innovation and technology transfer, has signed a three-year agreement with Roinet with an aim to develop access to financial services for underserved communities and small businesses.

As part of the partnership, both the parties will co-develop and implement artificial intelligence (AI) and machine learning (ML)-powered solutions to achieve their aim, as per the official statement.

Sameer Mathur, founder and managing director of Roinet, said: "Partnering with IIT Delhi enables us to co-create AI-driven solutions that address the unique needs of underserved communities, empowering them with better financial access. By combining our industry insights with IIT Delhi’s research excellence, we aim to drive tangible impact where it matters most."

With the help of the technology institute, Roinet will design and deploy AI-powered solutions such as an advanced underwriting engine for lending, an intelligent travel and ticketing platform, a grievance redressal chatbot and an advanced audio/ video calling platform, the institute said.

“These solutions will address key barriers in financial accessibility, ensuring seamless and efficient service delivery for end users,” it added.

Recently, the engineering institute partnered with the Northern Regional Load Dispatch Centre (NRLDC) to develop advanced solutions to restore power after blackouts.

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Career opportunities

Nikhil Aggarwal, managing director of the foundation for innovation and technology transfer at IIT Delhi, said: "This collaboration with Roinet allows us to apply cutting-edge AI and ML research to real-world financial inclusion challenges. Our researchers and students will work on transformative solutions that have the potential to reshape the landscape of accessible financial services. This partnership strengthens the industry-academia ecosystem, fosters meaningful innovation, and prepares future technologists to address pressing societal issues."

As part of the partnership, Roinet will offer product conceptualisation, infrastructure, financial incentives, and “go-to-market” strategies, ensuring a smooth flow from research to real-world implementation.

Notably, students working on the projects under the partnership, will be given stipends, mentorship, and long-term career opportunities, the institute said.