Tech Mahindra Partners with Finastra to Propel Digital Banking Transformation

Tech Mahindra has teamed up with fintech firm Finastra to aid banks in accelerating digital transformation. The collaboration aims to modernize platforms for corporate and institutional banks worldwide. The partnership will integrate end-to-end services, with Tech Mahindra holding exclusive implementation roles for specific Finastra solutions in North America and Europe.

IT company Tech Mahindra on Thursday announced a partnership with global fintech firm Finastra to expedite banks' digital transformation efforts.

The alliance aims to offer advanced platforms to corporate and institutional banks, facilitating innovation, operational streamlining, and digital business processing, according to an official company statement.

Mohit Joshi, CEO and MD of Tech Mahindra, stated, 'This partnership brings together two global leaders in digital transformation and financial services applications to help corporate banks scale rapidly. Our collaborative efforts are set to redefine how banks digitize, boosting their profit margins.'

As part of this partnership, both organizations will provide corporate banking clients with integrated, end-to-end cross-functional solutions, covering digital advisory, system integration, infrastructure, and cloud services.

Furthermore, Tech Mahindra will serve as Finastra's exclusive global implementation partner for its cash management platform and preferred partner for its trade innovation and corporate channels solutions in the USA, Canada, and Europe.

Simon Paris, CEO of Finastra, commented, 'The extensive service portfolio and vast experience from Tech Mahindra complement our open and modern software exceptionally well. Together, we anticipate accelerating digital transformation for more banks and financial institutions globally.'

(With inputs from agencies.)