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Fintech firm Quinte, Tamil Nadu sign deal to set up development centres

US-based company will use state's 'talent pool' to establish artificial intelligence, machine learning banking operations

M&A, mergers & acquisitions, merger, partnerships, Joint venture, JV

Guidance, Tamil Nadu government’s nodal agency for investment promotion, said Quinte will launch AI and ML banking operations in Tier-II cities | Representative image

Shine Jacob Chennai

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Quinte Financial Technologies, a global fintech firm headquartered in the United States, has entered a partnership with the Tamil Nadu government to establish technology development centres in Tier-II cities of the state.

Quinte and the state have signed a memorandum of understanding to use people skilled in artificial intelligence (AI), machine learning (ML), automation, and banking and finance for the development centres.

Guidance, Tamil Nadu government’s nodal agency for investment promotion, said Quinte will launch AI and ML banking operations in Tier-II cities.

"Quinte Financial Technologies' choice to establish its AI and ML banking operations in Tier-2 towns of Tamil Nadu underscores the abundant talent pool present in the state. This decision also reflects the state's commitment to fostering regionally balanced growth," said V Vishnu, managing director and chief executive officer of Guidance.

Sriram Natarajan, president of Quinte, said: "We are excited about expanding our operations in Tamil Nadu, a region known for its vibrant culture and exceptional talent pool. This is a critical juncture in our journey, and we are eager to contribute to the growth and development of the state by leveraging the expertise of the local workforce."

Quinte, which specialises in automation and analytics for financial institutions, said the development centres will improve operational metrics. The establishment of operating and development centers in Tier-II towns signifies a commitment to inclusivity and collaborative growth in Tamil Nadu's evolving business landscape, it said.

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First Published: Jan 23 2024 | 1:23 PM IST

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