Tech Mahindra, a leading IT company, is eyeing a larger share of the global banking technology (fintech) spends. According to the company’s CEO, CP Gurnani, Tech Mahindra aims to increase its presence in the fintech space and capture a significant portion of the estimated $20 billion annual spends by banks globally. The company has identified fintech as a key growth area and has made significant investments in the sector. Tech Mahindra has already partnered with several major banks and financial institutions, including the Bank of America, to deliver cutting-edge fintech solutions.
The company’s focus on fintech is driven by the growing demand for digital banking services and the increasing need for banks to transform their technology infrastructure to remain competitive. Tech Mahindra’s CEO believes that the company’s expertise in areas such as artificial intelligence, blockchain, and cybersecurity will enable it to stay ahead of the competition in the fintech space.
With its sights set on a bigger bite of the fintech spends, Tech Mahindra is expected to continue its investment in the sector and expand its partnerships with major banks and financial institutions. The company’s strategy is to offer a range of fintech solutions, including digital lending, payment processing, and blockchain-based transactions, to help banks stay ahead of the curve in the rapidly changing fintech landscape.