Lucknow, Jan 20 (PTI) With a view to making Uttar Pradesh the centre of the new generation digital economy, a fintech park will be developed on 250 acres of land in Sector-11 of the Yamuna Expressway Industrial Development Authority (YEIDA) area, an official statement issued here on Tuesday said.

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

"The government believes that this project will establish Uttar Pradesh as one of the major fintech hubs of the country. This ‘Fintech Park’ will be a vast hub, from banking to blockchain," the statement said.

According to the plan, Sector-11's fintech park will provide a common platform for companies connected to banking, digital payment, insurtech, investtech, Fintech SaaS (Financial Technology Software as a Service), and international money transfer.

All modern technologies related to financial services will be developed and established in the same premises, so that startups to large global companies can be attracted here for investment, it said.

The biggest strength of the fintech park is its location, which is directly connected to the Yamuna Expressway and 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.

To implement this project on the ground, the process of preparing the Detailed Project Report (DPR) has started.

For this, responsibility has been assigned to an international-level consultancy agency. Through the fintech park, thousands of new opportunities for direct and indirect employment will be created.

Youth will get opportunities in sectors like banking technology, data analytics, cyber security, digital payment systems, and financial software development.

The government's focus is that instead of migrating to other states, the talents of Uttar Pradesh should do global-level work in the state itself. PTI ABN BAL BAL

Fintech park on Yamuna Expressway to host banking, payments, blockchain and attract national and international investment. A 250 acre Fintech Park in Sector 11 of the Yamuna Expressway area will create an integrated financial technology ecosystem for banking, digital payments, insurtech, investtech, Fintech SaaS, blockchain and international money transfer, leveraging proximity to the Yamuna Expressway and Noida International Airport to attract national and international investment; a Detailed Project Report is being prepared by an international consultancy and the project is expected to generate substantial employment in fintech related sectors.