In a groundbreaking move to reshape the corporate banking landscape, Tech Mahindra, a global leader in technology consulting and digital solutions, has entered into a strategic partnership with Finastra, a renowned provider of financial software applications. This collaboration aims to accelerate the digital transformation journeys of corporate banks worldwide.
Through this alliance, Tech Mahindra assumes the role of Finastra’s exclusive global implementation partner for its Cash Management platform. Furthermore, the company secures preferred partner status for Finastra’s Trade Innovation and Corporate Channels solutions across the United States, Canada, and Europe.
The partnership promises a comprehensive suite of integrated solutions designed to empower corporate and institutional banks. This robust offering encompasses digital advisory services, seamless system integration, cutting-edge infrastructure, and flexible cloud solutions. By leveraging these advanced capabilities, financial institutions can modernize their operations, enhance efficiency, and deliver exceptional customer experiences.
“This collaboration brings together two industry titans to propel corporate banks into the future of digital transformation,” said Mohit Joshi, CEO & Managing Director of Tech Mahindra. “By combining our strengths, we will redefine the way banks approach digitization, ultimately driving increased profitability.”
The partnership arrives at a pivotal moment for corporate and institutional banks navigating a complex and rapidly evolving operating environment. Heightened regulatory scrutiny, escalating operational costs, and the complexities of global payment standards pose significant challenges. Additionally, the reliance on error-prone manual processes further hinders efficiency.
This strategic alliance addresses these critical issues by accelerating value realization through swift implementations and upgrades. Finastra’s state-of-the-art solutions, coupled with Tech Mahindra’s extensive global footprint and deep industry expertise, create a formidable partnership poised to drive transformative change.
“This is a strategic partnership that perfectly aligns with our commitment to empowering customers on their digital transformation journey,” stated Simon Paris, CEO of Finastra. “Tech Mahindra’s comprehensive service portfolio and profound industry knowledge are a perfect complement to our innovative and open software solutions. Together, we will accelerate the digital transformation of numerous financial institutions worldwide.”
With a rich history spanning over 23 years, Tech Mahindra has been at the forefront of supporting banks in core transaction processing, automation, and digital transformation initiatives. The company’s impressive track record includes the successful delivery of over 500 programs to more than 300 banks across the globe. This includes complex, multi-year transformation projects for leading Fortune 500 institutions.
By joining forces, Tech Mahindra and Finastra are creating a powerful synergy that will redefine the corporate banking landscape. This partnership is poised to drive innovation, enhance efficiency, and deliver exceptional value to financial institutions worldwide.
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