C-DAC, Bank of India Sign MoU to Explore Quantum Technologies for Banking

New Delhi, Oct 23 (KNN) The Centre for Development of Advanced Computing (C-DAC) and Bank of India (BOI) have signed a memorandum of understanding (MoU) to explore quantum technologies and other emerging technologies for banking and financial services.

The MoU was signed on October 22, 2026, and provides a framework for joint research, development, pilot projects, technology demonstrations and capacity-building initiatives.

The collaboration will focus on quantum-inspired and quantum-safe technologies to strengthen banking security and resilience. 

The two organisations will identify potential banking applications, conduct proofs of concept in secure testing environments and assess their technical feasibility and potential benefits.

Other areas of cooperation include artificial intelligence, blockchain, cybersecurity, intelligent document processing, fraud analysis, credit analytics, digital identity and secure data sharing.

The partnership will also include training and capacity-building programmes in quantum computing, quantum security, artificial intelligence and blockchain.

The MoU was exchanged by Aditya Kumar Sinha, Executive Director of C-DAC Mumbai, and Satyendra Singh, Chief General Manager (IT) and Chief Information Officer of Bank of India, in the presence of senior officials from the Ministry of Electronics and Information Technology, C-DAC and the bank.

(KNN Bureau)