C-DAC and Bank of India Collaborate on Quantum Financial Innovation and Emerging Technologies

Key facts

• The Centre for Development of Advanced Computing (C-DAC) and Bank of India (BOI) signed a Memorandum of Understanding on October 22, 2026, to collaborate on quantum financial innovation and emerging technologies in banking.
• The partnership aims to develop a Quantum Ecosystem for Financial Innovation to prepare banking systems for the opportunities and security challenges associated with quantum technologies.
• The collaboration will explore quantum-inspired and quantum-safe technologies to strengthen security, trust, resilience, and decision-making within the banking sector.
• The MoU establishes a framework for joint research, development, and capacity-building initiatives, leveraging C-DAC’s expertise in High Performance Computing and BOI’s banking domain knowledge.
• Potential areas of collaboration include Blockchain, Artificial Intelligence, intelligent document processing, fraud analysis, and smart contracts.
• The partnership will focus on developing a future-ready talent ecosystem through training and capacity-building programs in Quantum Computing, Quantum Security, and Artificial Intelligence.