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Business Economy

Andhra Pradesh Govt signs MoUs with Visa, Thomson Reuters for Fintech Valley

Andhra Pradesh Govt signs MoUs with Visa, Thomson Reuters for Fintech Valley

Mumbai, Feb 22 (UNI) Chief Minister of Andhra Pradesh, N Chandrababu Naidu, here today presided over the signing of two significant memoranda of understanding (MoU) with two fintech multinationals, Visa and Thomson Reuters, for setting up their offices in the Fintech Valley at Vizag. The milestone represents another firm step by the AP government designed to catapult Fintech Valley as the national and global hub for financial technologies (fintech) innovation. Also present at the event were Mr J A Chowdary, special chief secretary and IT advisor to the AP Chief Minister; Ms Latha Ayyar, special representative for Innovation & IT in the Government of AP & chief operating officer at Bharti AXA; Mr Vijayanand, IT secretary for Government of AP; Mr J Satyanarayana, UIDAI chairperson and former IT secretary; Mr T.R Ramachandran, group country manager for India & South Asia at Visa and Mr Pradeep Lankapalli, managing director, Thomson Reuters-South Asia. "Our vision is to create 5 lakh jobs in Andhra Pradesh by 2020 through technology-enabled services. Fintech Valley is a playground for start-ups and innovators. Our aim is to turn Fintech Valley into a global hub by enhancing the fintech ecosystem with mutually beneficial cross-border collaborations and relationships. This can lead the way in the technological and financial growth of the nation," Chief Minister Naidu said in a release. "These MoUs are steps towards converting our vision to reality -- of making Andhra Pradesh the leader in fintech ecosystem -- through Fintech Valley Vizag. Both these companies, Visa and Thomson Reuters, are industry leaders in their space and we are excited to be working with them," he added. The AP government will be hosting the first Fintech Valley Vizag Spring Conference 2017 on March 9 and 10. The conference will bring together fintech companies, start-ups, researchers and key government officials, who are working in the fintech sector. It will provide opportunities for disruptive business solutions, with a special focus on nurturing start-ups, the release added. UNI JM SS NP1900

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