UP government unveiled plans to establish a Fintech Park spanning 250 acres in Sector 11 of the Yamuna Expressway Industrial Development Authority.

The state government has roped in a consultancy agency to prepare a detailed project report (DPR).

This project is being shaped not only as an IT park but as a complete financial technology ecosystem.

According to the state government, the fintech park will provide a common platform for companies connected to banking, digital payment, insur-tech, invest-tech, fintech SaaS (financial technology software as a service), and international money transfer.

All modern technologies related to financial services will be developed here and established on the same premises, so that start-ups to large global companies may be attracted for investment.

The biggest strength of the Fintech Park will be its location. This area is directly connected to the Yamuna Expressway and is situated extremely close to Noida International Airport.

The government’s assessment is that after the start of the airport, this area will become the most preferred destination for international investors.

Due to better connectivity from Delhi-NCR, companies coming here will get the facility in operations at both national and global levels.

The process of preparing the detailed project report (DPR) has begun. For this, the responsibility has been given to a consultancy agency.

In the DPR, the blueprint of infrastructure, investment model, employment capacity, and phased development of Fintech Park is being prepared.

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According to reports, as soon as DPR is completed, the roadmap for plot allotment for investors and other processes will be publicized.

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The Fintech Park will generate thousands of new opportunities for direct and indirect employment. Youth will get opportunities in sectors like banking technology, data analytics, cyber security, digital payment system and financial software development, said the state government.