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LTI Selects Temenos to Launch Digital Banking Platform in the Nordic Market

Posted On: 2020-12-01 01:22:17 (Time Zone: Arizona, USA)


Larsen & Toubro Infotech (LTI), a global technology consulting and digital solutions company, has partnered with Temenos, the banking software company, to launch Digital Banking Platform, powered by Temenos technology. The platform will modernize legacy core banking systems in the Nordic region, enabling financial institutions to be more agile and scalable while reducing operating costs. Banks will also be able to leverage the platform to launch new products and servicesfaster.

With its comprehensive capabilities, the Digital Banking Platform provides end-to-end integration with Temenos Transact, Temenos Infinity, Temenos Payments, and Temenos Financial Crime Mitigation as well as Fintech solutions like regulatory reporting, authentication, KYC solutions, card services, and payment solutions available on Temenos Marketplace. LTI and its fully-owned subsidiary, Syncordis Consulting, a leading Temenos expert in the European region for more than 15 years, will provide implementation and managed services.

The partnership heralds a new era for Nordic banks as it brings together LTI's expertise in the domain and its deep understanding of Temenos functionality and advanced cloud-native, cloud-agnostic, AI and APIfirst technology solutions, enjoyed by over 3,000 banks in over 150 countries.

Sanjay Jalona, CEO & Managing Director, LTI, said, "This partnership of Temenos and LTI brings unmatched experience, expertise, and passion for innovation to the banks and financial institutions in the Nordic region. The new powerful banking platform based on Temenos' cloud-native technology, will enable banks to scale, modernize, and reduce IT cost significantly. Through our exclusive Temenos Accelerator Toolkit, we amplify outcomes with a faster time-to-market and continue to provide outstanding banking modernization services that empower banks to take a quantum leap in their digital transformation journey."

Max Chuard, Chief Executive Officer, Temenos, said, "This is a strategically important signing for Temenos in the Nordics. We are delighted to expand our partnership with LTI and Syncordis to offer to the market the next generation digital banking platform. Together with our partners, we are offering banks access to LTI's global banking expertise across the full Temenos' solutions applied to the specific needs of the Nordic region. Our advanced cloud and AI technology combined with our rich banking country model bank functionality is becoming the de facto choice for the Nordic banks and financial institutions. We enable banks to modernize their legacy systems, future-proof their banking platform while offering innovative services to their customers."

LTI is one of the leading IT Service Providers in the Nordic region. The IT Sourcing Study 2020 by Whitelane Research ranks LTI at #2 in terms of customer satisfaction across Europe. The company counts leading banks and financial institutions among its clients in the region.

Shares of Larsen & Toubro Infotech Ltd was last trading in BSE at Rs.3202.4 as compared to the previous close of Rs. 3084.6. The total number of shares traded during the day was 36272 in over 5679 trades.

The stock hit an intraday high of Rs. 3250 and intraday low of 3088. The net turnover during the day was Rs. 115136599.


Source: Equity Bulls

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