LTIMindtree forms specialized Banking Transformation Practice

Indian IT services and consulting firm LTIMindtree on Thursday announced the integration of its subsidiaries Syncordis and Nielsen+Partner to form a specialised Banking Transformation Practice (BTP). The company’s BTP will provide end-to-end consulting, digital, and IT services to banks and capital market firms, utilising commercial off-the-shelf (COTS) products and platforms. 

LTIMindtree acquired Syncordis in December 2017 and Nielsen+Partner in January 2019. By integrating these two, LTIMindtree aims to combine their complementary capabilities and proven track records in delivering industry-leading growth, the company said in an exchange filing on Thursday. 

“We envision the newly formed Banking Transformation Practice to serve our global clients, establish strategic partnerships, and deliver productised services,” said Nachiket Deshpande, Whole-Time Director and Chief Operating Officer of LTIMindtree. He added that the BTP will enable LTIMindtree to achieve industry-leading growth by providing end-to-end transformation for our clients." 

LTIMindtree’s BTP will also offer customers enhanced product and platform capabilities, a wider range of end-to-end offerings, stronger industry partnerships, and a highly skilled talent pool. 

LTIMindtree, formed by the merger of two prominent IT services provider – L&T Infotech and Mindtree — completed a year in November 2023. With banking and financial markets being its key revenue generator, the company has over 83,000 employees working across over 30 countries. 

In October last year, the IT firm appointed three new chief business officers (CBO) for three of its business units — retail and consumer goods, manufacturing, and life sciences and healthcare. The development comes just days after the company’s chief marketing officer (CMO), Paresh Vankar, resigned within 10 months of joining in January. 

Earlier this week, the company announced its partnership with Farmers Edge to launch a farming-focused innovation lab. The Farmers Edge Innovation Lab (FEIL) aims to educate and empower India's farmers, providing tailored solutions that enhance yields, reduce costs, and ensure a prosperous and sustainable future of agriculture.