Tech Mahindra, a provider of technology consulting and digital solutions to enterprises across industries, has announced a strategic partnership with Finastra, to help corporate banks accelerate their digital transformation journeys.
Through the partnership, Tech Mahindra will become Finastra’s exclusive global implementation partner for its Cash Management platform and the preferred partner for its Trade Innovation and Corporate Channels solutions in the USA, Canada and Europe.
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Finastra and Tech Mahindra will offer corporate banking customers integrated end-to-end cross-functional offerings spanning digital advisory, system integration, integrated infrastructure and cloud services
The partnership will deliver modern platforms that enable corporate and institutional banks to streamline and digitalise their business operations to provide enhanced customer satisfaction.
The partnership will accelerate time to value for customers through faster implementations and upgrades
Mohit Joshi, Chief Executive Officer & Managing Director, Tech Mahindra, said: “This partnership brings together two global leaders in digital transformation and financial services applications to help corporate banks scale at speed. We believe our joint efforts will redefine the way banks digitise to improve their profit margins.”
The partnership is announced at a time when corporate and institutional banks face growing challenges, such as rising regulatory complexity, growing operational costs, global Society for Worldwide Interbank Financial Telecommunications (SWIFT) standards and payment-related changes, error-prone manual processes, and a lack of digitalisation.
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By GlobalDataThe partnership will combine Finastra’s solutions with Tech Mahindra’s presence and knowledge in banking product implementation, digitalisation, infrastructure and operations.
Simon Paris, CEO, Finastra, added: “This is an important partnership that aligns closely with our commitment to helping our customers navigate today’s challenges and embrace much needed digitalisation. The broad portfolio of services and deep experience offered by Tech Mahindra are a valuable complement to our modern and open software. With this combination, we look forward to propelling the digital transformation of even more banks and financial institutions around the world.”
