LTIMINDTREE
18.7.2024 11:31:28 CEST | Business Wire | Press release
LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, today announced a multi-million dollar contract extension with Absa Bank, a leading African financial services group. This reinforces LTIMindtree's position as Absa Bank’s trusted strategic technology partner. The extended partnership builds upon a successful 17-year collaboration, where LTIMindtree has been instrumental in driving Absa Bank's digital transformation journey, fostering growth and efficiency.
Absa Group Limited, a publicly traded company on the JSE, is one of Africa's largest diversified financial services groups. The company has footprints across 12 African countries, China, the United Kingdom, and the United States. LTIMindtree will act as a one-stop shop for Absa Bank's IT needs, providing comprehensive services to bolster its digital infrastructure. This includes deploying cutting-edge solutions in Digital Transformation, Applied AI, Cloud Acceleration, Data-Driven Decision Making, and Core Banking Modernization.
Johnson Idesoh, Group Chief Information and Technology Officer at Absa Group, said, “Adopting modern IT systems and capabilities has always been our priority to ensure exceptional and seamless customer experiences. With a relationship of 17 years, LTIMindtree has delivered tangible business value to our banks, over a protracted period. At the same time, LTIMindtree, through process optimization and the application of advanced technology like Automation and Generative AI, has helped us lower total cost of ownership by 46% over the last 5 years. This ties in with our technology transformation journey. Together, we deliver stable and robust services to our customers in the African continent. We are confident that extending this partnership will enable our business growth even further and assist us to continuously enhance value for our customers, making our banks even more competitive.”
Sudhir Chaturvedi, President & Executive Board Member, LTIMindtree, said, “We are proud to be a trusted strategic partner for Absa Bank, celebrating over 17 years of successful collaboration. Through this renewal, we will continue to deliver best-in-class core banking solutions, encompassing digital, branch, and payment technologies for Absa's customers. These solutions span multiple markets and focus on increased localization. We are confident that through our deep industry knowledge and advanced data and analytics capabilities, we will continue to accelerate Absa Bank's transformation journey. This will empower them to achieve their strategic goals of becoming a client-centric and technology-first bank.”
This strengthened partnership solidifies LTIMindtree's leadership in the Banking, Financial Services, and Insurance (BFS & I) sector. By leveraging its domain expertise, robust technology solutions, industry-specific offerings, and a powerful partner ecosystem, LTIMindtree empowers BFS & I clients to achieve true end-to-end transformation. This includes core modernisation, go-to-market innovation, cloud adoption, data-driven decision-making, and enhanced customer engagement through insightful analytics, personalised marketing, and tailored experiences.
About LTIMindtree
LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 81,000+ talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — solves the most complex business challenges and delivers transformation at scale. For more information, please visit www.ltimindtree.com
About Absa Bank
Absa Group Limited (‘Absa Group’) is listed on the Johannesburg Stock Exchange and is one of Africa’s largest diversified financial services groups.
Absa Group offers an integrated set of products and services across personal and business banking, corporate and investment banking, wealth and investment management and insurance.
Absa Group owns majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania (Absa Bank Tanzania and National Bank of Commerce), Uganda and Zambia and has insurance operations in Botswana, Kenya, Mozambique, South Africa and Zambia. Absa also has representative offices in China, Namibia, Nigeria and the United States, as well as securities entities in the United Kingdom and the United States, along with technology support colleagues in the Czech Republic.
For further information about Absa Group Limited, visit www.absa.africa.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240718450587/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
NetApp Delivers Secure, Zero-Copy Data Activation for the Agentic Enterprise29.9.2026 19:30:00 CEST | Press release
Enterprises will be empowered to accelerate AI innovation to machine speed NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced new capabilities that enable enterprises to accelerate their adoption of agentic AI with secure, in-place, zero-copy data activation. The heterogeneous metadata capability of NetApp AI Data Engine (AIDE) helps organizations discover, understand, govern, and operationalize data where it lives, while an expanded integration with Commvault connects the NetApp Platform with Commvault recovery orchestration workflow to help customers detect attacks earlier and recover cleaner data faster. As AI agents move from experimentation into production, enterprise data infrastructure has become a critical business dependency. Agents can read, retrieve, and act on data at machine speed, but most enterprise data estates were built for human-paced workflows: fragmented across file, object, cloud, on-premises, and sovereign environments; governed
NetApp to Expand Partnership with SAP to Support SAP Cloud Infrastructure29.9.2026 19:30:00 CEST | Press release
NetApp to explore integrating NetApp capabilities with SAP Cloud Infrastructure storage architecture, to support secure, resilient, high-performance infrastructure for SAP and customer workloads NetApp, the intelligent Data Infrastructure company, today announced its intent to expand its long-standing partnership with SAP, with plans to explore deeper cloud-native integration of NetApp capabilities into SAP Cloud Infrastructure, SAP’s Infrastructure-as-a-Service platform. The NetApp Platform supports key elements of the SAP Cloud Infrastructure storage architecture, delivering reliable, highly available and high-performance file and block storage services. The NetApp Platform also provides built-in proactive data protection capabilities and data replication to support SAP’s global availability model. “SAP and NetApp share a long-standing commitment to empower the world’s most mission-critical enterprise environments,” said Álvaro Celis, Senior Vice President, Chief Commercial, Partner
NetApp Removes Storage Bottleneck for AI Factories29.9.2026 19:30:00 CEST | Press release
New architecture delivers fastest storage on the planet, designed to maximize GPU utilization and architected for up to 100 TB per second aggregate throughput NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced NetApp Novus™, the fastest storage on the planet designed for AI infrastructure providers operating large GPU environments. Built to support a zettabyte-scale file system, this next-generation architecture will allow AI factories to keep millions of GPUs continuously fed with data, maximizing the efficiency, utilization, and profitability of their investments. Neoclouds and GPU-as-a-Service providers are building AI factories at a scale that traditional storage architectures were never designed to support, creating bottlenecks that reduce GPU utilization and increase infrastructure costs. Under traditional architectures, GPU utilization can drop below 30 percent when AI factories cannot feed enough data to their GPUs to generate the results they
NetApp Empowers Enterprises to Build Anything, Anywhere29.9.2026 19:30:00 CEST | Press release
New hybrid multi-cloud capabilities remove borders between on-premises and cloud operations NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced new hybrid multi-cloud capabilities with autonomous controls to maximize enterprise flexibility and efficiency for any workload. Enterprises can now more easily adopt modern data strategies across on-premises and cloud environments leveraging new capabilities for consistent operations that account for sovereignty, governance, and controlled consumption. As enterprise applications and AI workloads increasingly span on-premises environments, public clouds, sovereign regions, and emerging AI Factory architectures, organizations need more than infrastructure flexibility. They need a consistent operating model that can keep pace with machine-speed demand while meeting requirements for governance, resilience, efficiency, and jurisdictional control. Traditional manual administration, fragmented tooling, and disconnecte
NetApp Enhances Data Sovereignty Controls to Keystone29.9.2026 19:30:00 CEST | Press release
Storage-as-a-Service will enable qualified European customers to use data sovereignty controls in support of their compliance and data residency journeys NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced NetApp Keystone Sovereign, which will enable qualified European customers to use data sovereignty controls in support of their compliance and data residency journeys. Enterprises will more easily be able to keep data and support within specified geographic boundaries. As organizations modernize IT and adopt cloud-like operating models, customers in regulated industries face increasing pressure to keep sensitive data, support, and operations within defined geographic boundaries. For many European customers, sovereignty requirements now extend beyond data residency to include operational access, telemetry, and data flow transparency. With NetApp Keystone Sovereign, qualified European customers can now better address these requirements. “Data sovereignty
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom