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
WHOOP Names Dirk-Jan "DJ" van Hameren Chief Marketing Officer as Member Base Surpasses 3 Million8.7.2026 13:00:00 CEST | Press release
Former Nike Global CMO and two-time Olympian joins WHOOP amid record global acceleration WHOOP, the human performance company, today named Dirk-Jan "DJ" van Hameren as Chief Marketing Officer. The appointment comes as WHOOP surpasses 3 million members worldwide after adding its latest one million members in just seven months. The former Nike Global Chief Marketing Officer and two-time Olympian joins WHOOP to help build the world's defining global brand for human performance and proactive health. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260708877245/en/ WHOOP Names Dirk-Jan "DJ" van Hameren (left) Chief Marketing Officer as Member Base Surpasses 3 Million Van Hameren spent more than three decades at Nike, where he rose from the mailroom at the company's European headquarters to become one of the most influential marketing leaders in the world. He served as NIKE Inc.’s Executive Vice President and Chief Marketing Officer
Endace and Artiza Networks Partner to Deliver Cybersecurity and Defense Solutions to the Japanese Market8.7.2026 13:00:00 CEST | Press release
Endace, a leading provider of always-on packet capture, network visibility, and packet forensics solutions, and Artiza Networks, Inc. ("Artiza"), a leading provider of telecommunications test, measurement, and network assurance solutions, today announced a partnership to deliver advanced cybersecurity and defense solutions to customers in Japan. “Artiza is exactly the partner we have been looking for to satisfy demand in Japan, with the right balance of expertise, and market reach,” said Stuart Wilson, CEO of Endace. Through this partnership, Artiza will offer Endace's packet capture, network recording, and packet forensics solutions to customers in Japan, including telecommunications operators, enterprises, government agencies, defense organizations, and critical infrastructure providers. Endace's EndaceProbe Analytics Platform provides highly scalable, always-on packet capture and recording capabilities across a wide range of network environments, including enterprise networks, data
HTEC Introduces “OneLoopAi” Redefining How Enterprises Scale AI Into Production8.7.2026 12:28:00 CEST | Press release
OneLoopAi is the first platform to provide end-to-end transparency between enterprise and partner on AI usage, resource utilization, costs, and value realized. HTEC, the global technology and engineering firm headquartered in Palo Alto, Silicon Valley, today announced it has launched HTEC OneLoopAi—a new platform and approach to managing AI execution and value realization. The platform brings real-time visibility into progress, transparency with customers, and acceleration to how AI is deployed and scaled into production. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260708166155/en/ HTEC, the global technology and engineering firm headquartered in Palo Alto, Silicon Valley, today announced it has launched HTEC OneLoopAi—a new platform and approach to managing AI execution and value realization. The platform brings real-time visibility into progress, transparency with customers, and acceleration to how AI is deployed and sc
Robbyant Upgrades and Open-Sources LingBot-VLA 2.0 as a Next-Generation Universal Brain for Embodied AI8.7.2026 10:11:00 CEST | Press release
Robbyant, an embodied AI company within Ant Group, today announced the upgrade and open-source release of LingBot-VLA 2.0. Building upon the foundation of LingBot-VLA 1.0 released in January 2026, this next-generation vision-language-action (VLA) model delivers significant leaps in morphological generalization, degrees of freedom (DoF) support, and deployment efficiency, delivering a more advanced “universal brain” for scalable real-world robotics. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260707394646/en/ LingBot-VLA 2.0 supports a wide range of robot morphologies While the embodied AI industry is witnessing rapid advancements in hardware and control systems, the lack of a truly universal brain remains a primary bottleneck for industrial-scale deployment. LingBot-VLA 2.0 addresses this critical gap by dramatically expanding its pre-training data and architectural capabilities. LingBot-VLA 2.0 was pre-trained on 60,000
TetraMem and SK hynix Showcase Successful Technology Collaboration Advancing Memory-Centric AI Computing8.7.2026 10:06:00 CEST | Press release
Joint achievement highlights how Analog In-Memory Computing can address the growing energy and thermal challenges of AI while laying the foundation for deeper collaboration on next-generation memory and computing architectures. TetraMem Inc., a leader in Analog In-Memory Computing (A-IMC) technology, and SK hynix Inc., a global leader in AI memory and semiconductor technologies, today announced the successful completion of a joint technology collaboration, highlighted by the publication of their research paper, “A Memristor-based In-Memory Computing SoC with Efficient Depthwise Convolution,” in Advanced Intelligent Systems. The work has also been selected as the cover feature of the journal, recognizing its technical innovation and potential impact on next-generation AI computing. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260708244132/en/ The collaboration brings together SK hynix’s expertise in advanced memory technolo
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