The Institute for Development and Research in Banking Technology (IDRBT) and International Institute of Information Technology (IIIT), Hyderabad, signed a Memorandum of Understanding (MoU) on December 20, 2025. They will work together in academics, research, training, student exchange, and skill development for the Banking, Financial Services and Insurance (BFSI) sector. The MoU was signed in the presence of H. Krishnamurthy, Chief Research Scientist (retd.) of IISc Bengaluru and a governing council member of both institutes. IIIT Hyderabad Director Sandeep Shukla and IDRBT Director Deepak Kumar exchanged the documents. The partnership plans to start joint Ph.D. programs in key areas like digital payments, cyber security, Artificial Intelligence (AI), cryptography, blockchain, and programmable money. Their goal is to prepare research scholars for the banking industry and improve customer ease and security. Other collaboration areas may include technology standardization for BFSI, India-specific cyber security algorithms, and enhanced user experience. The institutes aim to contribute to public welfare with their combined expertise.