Indian IT firm Tech Mahindra has partnered with fintech software developer Strands to offer an integrated suite of digital banking solution.

Under the partnership, Tech Mahindra will leverage Strands’ artificial intelligence capabilities and existing expertise in delivering financial services.

The digital banking solution will be based on data-driven analytics of user behaviour. The competency will help financial institutions to deliver personalised products to their customers.

Furthermore, the solution will provide users them with deeper insights to help take better decisions as well as generate cross and up-sell opportunities.

The digital banking offering will also help banks in bolstering engagement with the customers supporting their retention.

Tech Mahindra global head of banking, financial services and insurance Gautam Bhasin said: “As part of our TechMNxt charter, Tech Mahindra is focused on enhancing customer experience by leveraging next generation technologies like Artificial Intelligence to deliver world-class solutions.

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“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 & services by banks, as well as increase return of investment for our customers.”

Established in 2004, Strands offers customisable digital money management software to financial institutions. Till date, it has carried out more than 600 implementations.

Its product portfolio includes PFM (Personal Financial Management), BFM (Business Financial Management), Engage (insight-driven solutions) among others.