The program aims to use financial technology to evolve outdated elements of India's financial services industry.

Asian banking giant Nomura has commenced a financial technology partnership in India that seeks to harness emerging technologies to help transform the nation's businesses and services. 

Voyager – Nomura FinTech Partnership invites entrepreneurs to participate in a program to develop innovative solutions for capital markets and investment banking that can be deployed across the firm and India's financial industry, the group said in a statement earlier this week. 

Nomura has set up a so-called innovation centre in Mumbai to provide a platform that approved start-ups can use.

“Working at [the innovation centre] will enable entrepreneurs to access Nomura resources and test their concepts and solutions leveraging the firm’s people, processes and technology,” the firm said. “The partnership could lead to start-ups potentially gaining Nomura as a client and/or an investor and obtaining global exposure and scale through association with a well-recognised international investment bank that aims at connecting markets East and West.”

Nomura has joined forces with Big Four firm PricewaterhouseCoopers as a “knowledge partner”, and with Google, IBM and Amazon on other aspects of the project, it says.