Kerala Startup Mission CEO Anoop Ambika and Kerala Bank CEO Jorty M Chacko exchanges De Mou to set up a fintech innovation zone for Kerala Bank. Minister -President Pinarayi Vijayan and Industries, Coconut and Minister of Justice P. Rajeeve are also seen
Banks must be willing to take on emerging challenges when the sector witnesses rapid progress in IT technology, Chief Minister Pinarayi Vijayan said.
Such readyness can enable the State start -up system of the State to convert professional threats into opportunities, he said while he has organized an IT -Conclave by Kerala State Cooperative Bank, usually called Kerala Bank.
Kerala Bank has also signed an agreement with Kerala Startup Mission to set up a fintech innovation zone with the aim of promoting digital innovation in financial institutions and the State cooperative banking sector. De Mou, valid for three years, was signed by Kerala Bank CEO Jorty M. Chacko and his KSUM counterpart Anoop Ambika.
Authorities have already started creating innovative technological systems, including IT integration and core bank systems. Customers deserve consciousness about protecting increasing cases of online fraud, the Chief Minister said.
Cooperatives Minister UN Vasavan called the Fintech innovation zone a “first step” by Kerala Bank when entering the startup scene.
The agreement will enable Kerala Bank to set up a 1000 square meter space for a fintech innovation hub in the IT department in Kakkanad. Cohort-based fintech rapiders are being carried out to identify and support promising fintech startups. Co-creation of digital banking solutions that are encouraged by the Kerala Bank and Cooperative Banking Ecosystem. In general, De MOU tries to create an ecosystem that is conducive to fintech innovation through mentoring, financing support and market access.
Kerala Bank will make selected startups possible to carry out POC projects (proof of concept) projects, to offer mentoring support with the help of experts from bank and financial sectors and offer access to the bank’s customer base in addition to infrastructure for pilot testing.
KSUM will be responsible for setting up the Fintech Innovation Hub in Kochi and implementing the necessary human resources and other infrastructure. The Startup mission will also be responsible for designing and implementing accelerator programs, offering incubation, technical advice and investor relationships to selected startups and making existing KSUM support schedules such as innovation fairs and access to the world market available for startups.
Published on 27 September 2025
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