The Department of Science and Technology, under its National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS), has funded IIT Bhilai to host the Technology Innovation Hub (TIH) for the Financial Technologies (FINTECH) area. IIT Bhilai established Innovation and Technology Foundation (IBITF), a section 8 company on 21st January 2021. IBITF has a mandate of setting up an incubation center, carrying out translational research, IP generation, and Entrepreneurship development, and hosting TIH for FinTech. IBITF is the nodal center for spearheading Entrepreneurship, R&D, HRD & Skill Development, and Collaboration related activities in Financial Technologies. Financial technologies and tools are undergoing a sea change at both micro and macro level, keeping pace with the enormous advancements happening in the IT domain, and facilitating easy access to the internet and mobile platforms.