Erik Brieva, CEO at Strands

Digital transformation and consulting services provider, Tech Mahindra LTD. has collaborated with AI-based money management solutions provider, Strands, with an aim to provide a suite of personalized digital banking solution to financial institutions.

According to the supplier, Strands’ AI capabilities will be utilized by Tech Mahindra for enabling enhanced customer experience, creation of personalized and contextual offering and will enable the company to provide pertinent insights for the generation of cross and up-sell opportunities. The solution also aims to bring about a higher customer engagement and retention rate.

Gautam Bhasin, Global Head, Banking, Financial Services and Insurance, Tech Mahindra, 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. Our collaboration with Strands will further enable us to implement this unique digital financial solution to enhance the end-customer experience and faster time to market of products & services by banks, as well as increase return of investment for our customers”

Strands’ solution will be offered to Tech Mahindra’s global clientele in order to enable digital transformation, system integration and service portfolio management.

Erik Brieva, CEO at Strands, said, “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. This strategic partnership with Tech Mahindra will accelerate the delivery of tangible business value”.

Established in 2004 in Oregon and Barcelona, Strands provides customizable money management software for financial institutions. It enables banks and merchants to anticipate customer needs and suggest next-best-actions to increase long-term value for customers. Its portfolio includes PFM (Personal Financial Management), BFM (Business Financial Management, CLO (Customer Linked Offers), Engage (insight-driven solutions) and API (Application Programming Interface) Hub to connect multiple APIs and external services.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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