Global technology consulting and digital solutions company, LTIMindtree, has announced a multi-million-dollar contract extension with Absa Bank, an African financial services group.

Absa Group Limited is one of Africa’s largest diversified financial services groups. The company has footprints across 12 African countries, China, the United Kingdom, and the United States. LTIMindtree said it will act as a one-stop shop for Absa Bank’s IT needs, providing comprehensive services to bolster its digital infrastructure. This includes deploying cutting-edge solutions in Digital Transformation, Applied AI, Cloud Acceleration, Data-Driven Decision Making, and Core Banking Modernization.

Johnson Idesoh, Group Chief Information and Technology Officer at Absa Group said, “Adopting modern IT systems and capabilities has always been our priority to ensure exceptional and seamless customer experiences. With a relationship of 17 years, LTIMindtree has delivered tangible business value to our banks, over a protracted period. At the same time, through process optimization and the application of advanced technology like Automation and Generative AI, they have helped us lower total cost of ownership by 46 per cent over the last five years. This ties in with our technology transformation journey.” He added that the companies will deliver stable and robust services to Absa’s customers in the African continent. “We are confident that extending this partnership will enable our business growth even further and assist us to continuously enhance value for our customers, making our banks even more competitive.”

LTIMindtree claims to help its BFS&I clients achieve end-to-end transformation through core modernisation, go-to-market innovation, cloud adoption, data-driven decision-making, and enhanced customer engagement through insightful analytics, personalised marketing, and tailored experiences.

Sudhir Chaturvedi, President & Executive Board Member, LTIMindtree, said, “We are proud to be a trusted strategic partner for Absa Bank, celebrating over 17 years of successful collaboration. Through this renewal, we will continue to deliver best-in-class core banking solutions, encompassing digital, branch, and payment technologies for Absa’s customers. These solutions span multiple markets and focus on increased localization. We are confident that through our deep industry knowledge and advanced data and analytics capabilities, we will continue to accelerate Absa Bank’s transformation journey. This will empower them to achieve their strategic goals of becoming a client-centric and technology-first bank.”

Related Topics