City Union Bank (CUB) has announced a strategic alliance to establish a Centre of Excellence (CoE) focused on Artificial Intelligence for Banking (CoE/AIDF). Signed on March 07, 2026, this quadripartite agreement involves CUB as the Business Partner, along with Centific Global Solutions Inc., SASTRA University, and nStore Retech Pvt Ltd. The CoE aims to develop and deploy advanced AI solutions for critical banking functions like fraud detection and risk analytics.
Strategic Alliance for Banking Innovation
City Union Bank Limited has finalized a significant agreement on March 07, 2026, marking a major step into leveraging Artificial Intelligence (AI) for its operations. This is a quadripartite Memorandum of Understanding (MoU) designed to establish a dedicated Centre of Excellence in Artificial Intelligence for Banking (CoE/AIDF).
Key Partners in the Initiative
The agreement brings together four distinct entities, each contributing specialized expertise:
- Business Partner: City Union Bank (CUB) – providing domain expertise and industry insights.
- Technology Partner: Centific Global Solutions Inc. (AIDF).
- Knowledge Partner: SASTRA University.
- Implementation Partner: nStore Retech Pvt Ltd.
Objectives of the Centre of Excellence
The primary mission of the CoE is to develop and deploy AI-driven solutions tailored specifically for banking applications. Key areas of focus will include:
- Fraud Detection.
- Credit Risk Analytics.
- Customer Behaviour Modelling.
- Regulatory Compliance Automation.
Furthermore, the Centre will support CUB’s ongoing digital transformation and develop industry-ready talent through academic programs, internships, and certification courses.
Bank’s Role and Governance
CUB will actively participate by offering necessary support for the development and testing of these AI-based solutions relevant to daily banking operations. For governance, The Bank shall nominate a Senior Executive to serve as the Industry Co-Chair of the Governing Council overseeing the CoE/AIDF.
Transaction Classification
The Bank has confirmed that this transaction does not fall within the scope of related party transactions, and it is conducted at “arm’s length”, ensuring transparency in the new strategic partnership.
Source: BSE
