LTIMindtree, a global technology consulting and digital solutions company has announced a multi-million dollar contract extension with Absa Bank, a African financial services group.

This reinforces LTIMindtree’s position as Absa Bank’s strategic technology partner. The extended partnership builds upon a successful 17-year collaboration, where LTIMindtree has driven Absa Bank’s digital transformation journey, fostering growth and efficiency.

Absa Group Limited is one of Africa’s largest diversified financial services groups

The company has footprints across 12 African countries, China, the United Kingdom, and the United States. LTIMindtree will act as a one-stop shop for Absa Bank’s IT needs, providing comprehensive services to bolster its digital infrastructure. This includes deploying cutting-edge solutions in Digital Transformation, Applied AI, Cloud Acceleration, Data-Driven Decision Making, and Core Banking Modernisation.

Johnson Idesoh, Group Chief Information and Technology Officer at Absa Group, said: “Adopting modern IT systems and capabilities has always been our priority to ensure exceptional and seamless customer experiences. With a relationship of 17 years, LTIMindtree has delivered tangible business value to our banks, over a protracted period. At the same time, LTIMindtree, through process optimisation and the application of advanced technology like Automation and Generative AI, has helped us lower total cost of ownership by 46% over the last 5 years. This ties in with our technology transformation journey. Together, we deliver stable and robust services to our customers in the African continent. We are confident that extending this partnership will enable our business growth even further and assist us to continuously enhance value for our customers, making our banks even more competitive.”

This strengthened partnership solidifies LTIMindtree’s position in the Banking, Financial Services, and Insurance (BFS & I) sector. By leveraging its domain expertise, robust technology solutions, industry-specific offerings, and a powerful partner ecosystem, LTIMindtree empowers BFS & I clients to achieve true end-to-end transformation.

This includes core modernisation, go-to-market innovation, cloud adoption, data-driven decision-making, and enhanced customer engagement through insightful analytics, personalised marketing, and tailored experiences.