Tech Mahindra Limited and Strands have announced a strategic partnership to provide an integrated suite of secure and customised digital banking solutions to financial institutions globally.

Under the partnership, Tech Mahindra will leverage Strands’ artificial intelligence (AI) capabilities along with its existing domain expertise in financial services to enable enhanced customer experience. By providing data-driven analytics of user behaviour, the digital banking solution will enable financial institutions to create personalised and contextual offering for their customers. In addition, the solution will provide them with relevant insights to take informed decisions to generate cross and up-sell opportunities. The solution will lead to multiple touch-points across the customer journey which will further translate into a higher customer engagement and retention rate.

Commenting on the development, Gautam Bhasin, global head, banking, financial services and insurance, Tech Mahindra, said, “As part of our TechMNxt charter, Tech Mahindra is focused on enhancing customer experience by leveraging next generation technologies like AI to deliver world-class solutions. Our collaboration with Strands will further enable us to implement this unique digital financial solution to enhance end-customer experience and faster time to market of products and services by banks, as well as increase return of investment for our customers”.

Meanwhile, Erik Brieva, chief executive officer at Strands, said, "Our white-label digital money management solutions give financial institutions an edge over the competition, speed up internal processes and help them reap the benefits of a more engaged relationship with their customers. This strategic partnership with Tech Mahindra will accelerate the delivery of tangible business value.”

Tech Mahindra will offer Strands solutions to its global clientele to enable their complete digital transformation, and will also undertake system integration and service portfolio management.