Tech Mahindra, Innoveo to build digital transformation solutions through partnership

Information technology (IT) services firm Tech Mahindra has partnered with Zurich-based technology software provider Innoveo to build digital transformation solutions for insurance, banking and wealth management sectors.

The companies will leverage no-code platforms, which help businesses develop software without coding, to accelerate the launch of applications for their clients, a statement said.

Innoveo's flagship product Skye is a no-code platform that enables digital players to transform and digitalise faster by introducing new products into the market, across multiple distribution channels.The company claims to help businesses launch applications upto ten times faster than conventional development processes.

“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,” Gautam Bhasin, global head of banking, financial services and insurance at Tech Mahindra, said.

The latest collaboration aligns with Tech Mahindra’s TechMNxt charter, which is focused on leveraging technologies like cybersecurity, artificial intelligence, blockchain, 5G and internet of things to disrupt and enable digital transformation, and build technology solutions and services for customers globally.

Read: Tech Mahindra, Virsec collaborate to deliver advanced cybersecurity solutions

"Our partnership and our flagship product Innoveo Skye open up differentiated solutions and opportunities for the customers of our two companies for faster implementation and innovation in the business environment,” Amir Ghaffar, CEO, Innoveo, said.

Last month, Pune headquartered Tech Mahindra signed a contract to build a digital roadmap for Helsinki-based sustainable fibre solutions company Ahlstrom-Munksjö using German technology company SAP’s S/4HANA, an enterprise resource planning (ERP) solution for large businesses.