The focus of research and development activities of the Institute is primarily applied in nature, i.e., original investigation to acquire new knowledge towards a practical aim or objective that will serve the Indian Banking and Financial Sector.  Accordingly, the Research and Development activities of the Institute are aimed at improving Banking Technology in the country. While addressing the immediate concerns of the Banking Sector, the Research at the Institute also focuses on anticipating the future needs and requirements of the Banking and Financial Sector and developing technologies to address them.

Over a period of time, the Institute’s research centres on Analytics, Cyber Security, Mobile Banking, Affordable Technologies, Cloud Computing and Payment Systems, contributed to the strengthening of the banking and financial technology regimen in the country. In line with the changes in the Banking and Financial Technology landscape as well as to more effectively bring in the benefits of new and emerging technologies for the Indian Banking and Financial Sector, the Institute has now restructured its Research Centres. 

The Institute now has six new Research Centres focussed on key areas of technology that are crucial for the Indian Banking and Financial Sector. The structure of Research Centres too have been changed, with each Research Centre now having various Labs under them, which focus on current and emerging areas directly relevant to the Banking and Financial Sector such as Analytics, Artificial Intelligence,  Machine Learning, Cyber Security, Ethical Hacking, Digital Privacy, Networks, Cloud Computing, 5G, Internet of Things, Mobile and Social Media Banking, Banking Use Case Innovation, Open Source, Quantum Safe Cryptography, Quantum Communications, Distributed Ledger Technologies, and Digital Payments.

These state-of-the-art Research Centres drive the research and development work of the Institute. The Research Centres are also being constantly upgraded with the latest systems, devices and tools to keep pace with the ever-changing technology trends. Presently, the Institute has the following six Research Centres for focused research and development directly relevant to the Indian Banking and Financial Sector: