Source: ET Bureau
Through this partnership, both companies will leverage No-Code Platforms to accelerate the launch of custom-built applications for their collective network of clients without software coding in real-time across all banking, wealth management and insurance sectors.
Tech Mahindra will partner Innoveo, a Zuriich based technology software provider, to drive digital transformation in insurance banking and wealth management, the IT services provider said on Tuesday.
Through this partnership, both companies will leverage No-Code Platforms to accelerate the launch of custom-built applications for their collective network of clients without software coding in real-time across all banking, wealth management and insurance sectors.
“Through our partnership with Innoveo, Tech Mahindra will enable digitalization of sales and distribution channels for enterprises to ensure launch of new products in real time; help them trade financial and insurance products through multiple distribution channels, and improve efficiency of processes like risk assessment, insurance policies, banking products, policy lifecycle, customer advisory, servicing and claims resolution,” said Gautam Bhasin, Global Head Banking, Financial Services and Insurance, Tech Mahindra.
Today’s business models are faced with maturing markets combined with millennial demands for engaging experiences, scarcity of technical talent with the necessary coding expertise, and the critical need to accelerate innovation and enable new business models in order to grow and succeed financially. Tech Mahindra and Innoveo will jointly offer innovative solutions to companies struggling with competitive market demands and critical antiquated legacy systems, it said in a statement.
Amir Ghaffar, CEO, Innoveo, said, “While the demands for agility, market proximity and the flexibility to adapt to new trends are constantly increasing, digital businesses are struggling with restrictions in terms of development capacity and the integration capability of its often-monolithic back-end legacy systems. If you want to stay ahead of the competition, you must speed up the introduction of digital solutions and innovative offerings.”
