Tech Mahindra, Strands in pact for banking solutions

New Delhi: Sofware major Tech Mahindra Ltd on Wednesday entered into a partnership with Strands, a Barcelona-headquartered Fintech company, that helps banks leverage artificial intelligence-based technology to grow customer loyalty and boost the bottom line.

The partnership was forged to provide an integrated suite of secure and customized digital banking solution to financial institutions, Tech Mahindra said in a statement.

Tech Mahindra said it would leverage Strands’ AI capabilities along with its existing domain expertise in financial services to enable enhanced customer experience.

“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,” said Erik Brieva, Strands CEO.

This strategic partnership with Tech Mahindra would accelerate the delivery of tangible business value, Brieva added.

By providing data-driven analytics of user behavior, the digital banking solution is designed to enable financial institutions to create a personalized and contextual offering for customers.

In addition, the solution would provide relevant insights to make informed decisions to generate cross and up-sell opportunities, Tech Mahindra said.