India-based IT firm Tech Mahindra has entered into a partnership with Innoveo, a Swiss technology software provider, to drive digital transformation to improve customer experience across the globe in insurance, banking and wealth management.
Under the partnership, both companies will leverage no-code platforms to speed up the introduction of custom-built applications for their combined network of clients without software coding in real-time across all banking, wealth management and insurance sectors.
Tech Mahindra banking, financial services and insurance global head Gautam Bhasin said: “Through our partnership with Innoveo, Tech Mahindra will enable digitalisation 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.”
Tech Mahindra and Innoveo will jointly offer innovative solutions to companies
Tech Mahindra and Innoveo will provide advanced solutions to companies facing challenges with competitive market demands and critical antiquated legacy systems.
Innoveo’s flagship product, Innoveo Skye is a no-code platform, which offers digital players in the insurance, banking and wealth management sectors with the latest technology.
It allows financial businesses to transform and digitalise faster by introducing new products into the market, across multiple distribution channels.
Innoveo CEO Amir Ghaffar 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.”
The partnership is aligned with Tech Mahindra’s TechMNxt charter, which focuses on leveraging next-generation technologies such as cybersecurity, artificial intelligence, blockchain, 5G, and internet of rhings, to interrupt and allow digital transformation, to build cutting-edge technology solutions and services.
