Karnataka integrates Artificial Intelligence to revolutionize fintech services delivery

Karnataka is positioning itself as a leader in India28099s fintech revolution by integrating Artificial Intelligence (AI) into its financial services delivery. The state, part of the world28099s third-largest fintech ecosystem with over 5,000 startups and 25 unicorns, is leveraging AI to enhance accessibility and innovation across both urban and rural areas.

Central to this transformation is the Elevate program, which supports early-stage entrepreneurs with seed grants of 2829250 lakh and extended financial and institutional aid totaling 282925 crore. This initiative focuses on expanding fintech beyond Bengaluru, fostering inclusive growth.

In addition, Karnataka is investing in knowledge infrastructure, exemplified by a 282910 crore support fund granted to NSRCEL at IIM Bengaluru. This fund facilitates advanced research, training, and mentorship, strengthening the fintech ecosystem's foundation.

"Karnataka is emerging as an epicenter of innovation in India28099s rapidly expanding fintech ecosystem," a state official noted, highlighting the commitment to reshaping financial technology delivery.

By aligning its fintech vision with AI's transformative power, Karnataka aims to revolutionize how financial services are delivered, ensuring broader reach and efficiency. This strategic integration underscores the state's role in driving fintech innovation nationally and globally.

The combined efforts of policy support, financial investment, and AI integration position Karnataka as a pioneering hub in fintech, setting a benchmark for other regions to emulate.

Karnataka is revolutionizing fintech services by integrating Artificial Intelligence, supported by forward-thinking policies and programs like Elevate, which offers seed grants and financial aid. The state also invests in knowledge infrastructure, including a ₹10 crore fund for NSRCEL at IIM Bengaluru, fostering innovation across urban and rural areas.