Tech Mahindra and Finastra forge strategic alliance
To drive digital transformation for corporate banks
Tech Mahindra, a global technology consulting and digital solutions provider based in Maharashtra, India, has signed a strategic partnership with London, UK-headquartered Finastra, a global leader in financial software applications and marketplaces, to transform corporate banking operations through enhanced digital solutions.
Under the partnership, Tech Mahindra will serve as Finastra’s exclusive global implementation partner for its cash management platform.
Additionally, Tech Mahindra will be the preferred partner for Finastra’s trade innovation and corporate channel solutions in the United States, Canada, and Europe.
The alliance promises to deliver comprehensive, end-to-end solutions, including digital advisory, system integration, infrastructure, and cloud services.
By combining their expertise, the two companies will provide corporate and institutional banks with modern platforms designed to streamline operations, drive innovation, and elevate customer satisfaction.
The partnership arrives at a pivotal moment as corporate and institutional banks grapple with increasing regulatory demands, rising operational costs, evolving SWIFT standards, and cumbersome manual processes.
By leveraging Finastra’s advanced solutions and Tech Mahindra’s extensive implementation experience, the partnership aims to address these challenges and accelerate time to value for banking customers through quicker implementations and upgrades.
Mohit Joshi, Tech Mahindra’s CEO and Managing Director, said: “This collaboration unites two global leaders in digital transformation and financial services. Our joint efforts are set to redefine banking digitisation, ultimately enhancing profit margins for our clients.”
Simon Paris, Finastra’s CEO, added: “This alliance is aligned with our mission to help customers navigate today’s complexities and embrace essential digitalisation. Tech Mahindra’s broad service portfolio and deep banking experience complement our modern, open software. Together, we look forward to advancing the digital transformation of banks and financial institutions globally.”
Tech Mahindra has over 23 years of experience supporting banks with core transaction processing, automation, and digital transformation. The company has successfully executed more than 500 programmes across over 300 banks worldwide, including complex, multi-year projects with Fortune 500 institutions.
Finastra is trusted by over 8,000 institutions, including 45 of the world’s top 50 banks.
Featured image: The alliance promises to deliver comprehensive, end-to-end solutions. Credit: Austin Distel
