To Improve digital literacy among banking customers
An MoU was signed today between the Andhra Pradesh Quantum Mission and Punjab National Bank to set up a Quantum Finance Innovation Hub at Amaravati Quantum Computing Centre.
The agreement was signed in the presence of Chief Minister Mr N Chandrababu Naidu and PNB Managing Director & CEO Mr Ashok Chandra.
With this agreement, Punjab National Bank has become the first bank in India to partner with a state government to establish a dedicated Quantum Finance Innovation Hub for the banking sector.
As per a release from the government the hub will focus on strengthening cyber security in banking services, developing advanced systems to detect financial fraud proactively and enabling secure digital financial ecosystems through quantum technologies.
It will also serve as a collaborative platform bringing together industries, academic institutions, startups, research organizations and government agencies.
In addition to quantum computing, the hub will promote research and innovation in Artificial Intelligence (AI) and other emerging technologies while developing the skilled workforce required for these advanced domains.
Chief Minister Chandrababu Naidu reiterated the government’s vision of transforming Amaravati into a global hub for quantum and other deep technologies.
He described the establishment of PNB’s Quantum AI Finance Innovation Hub at Amaravati Quantum Valley as another significant milestone in that journey.
The Chief Minister urged PNB officials to take up special initiatives to improve digital literacy among banking customers and the general public.
Mr Naidu emphasized that governments and banks must work together to enhance awareness and build public confidence in digital financial services.
He also stressed the need to leverage technology to combat cybercrime and digital arrest scams and underscored the importance of using quantum technologies to provide the highest level of security for digital financial transactions.
PNB MD & CEO informed the Chief Minister that the Quantum Finance Innovation Hub is being established in Amaravati to make digital banking more secure, efficient and customer-friendly.
