LTIMINDTREE
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
Hanseo University Expands Aviation Training Program with New Frasca Flight Training Device10.12.2025 16:05:00 CET | Press release
The new device marks the latest milestone in a long-standing collaboration between Hanseo University and Frasca International, Inc. Frasca International, Inc., a FlightSafety International company and leader in flight simulation, today announced that Hanseo University in South Korea is expanding its aviation program with a new Level 5 Cessna 172 Flight Training Device (FTD), the seventh Frasca device to join the university’s fleet. Hanseo University’s school of Aeronautical Science recognized by the Korean University Accreditation Institute as the nation’s first Specialized University for Training Professional Workforce Industries, continues to expand its state-of-the-art simulation capabilities with the acquisition of a Level 5 Cessna 172 FTD. The addition builds on a partnership with Frasca that has spanned more than two decades and further advances aviation education across Asia. “We were seeking simulators that provided both realism and reliability, and Frasca stood out immediately
Bregal Milestone Announces Majority Growth Investment in Beyond Now10.12.2025 16:00:00 CET | Press release
Partnership to Drive Beyond Now’s AI-Led Innovation and Expansion Bregal Milestone, a leading European software growth private equity firm, today announced a majority growth investment in Beyond Now (the “Company”), a fast-growing, cloud-native supply chain software provider for AI-enabled digital commerce. Driven by strong customer demand, Beyond Now has generated profitable growth and >40% last twelve-month ARR growth. Beyond Now supports some of the world’s largest and most innovative Communication Service Providers (CSPs), including Verizon, AT&T, Deutsche Telekom, and NTT, in managing complex digital supply chains to create seamless end-to-end partner and customer operations. Founded in 2018, the Company serves telecommunication providers, technology companies, and private enterprises to efficiently scale and monetize digital services through its suite of modern, Ecosystem Orchestration and Digital Platforms - including an AI Digital Business Platform for orchestrating partner off
NetJets to Bring Starlink High-Speed Connectivity to Fleet10.12.2025 15:05:00 CET | Press release
The agreement between the two companies will bring reliable Wi-Fi connectivity to one of the world’s largest fleets of jets, ensuring a seamless, best-in-class experience for Owners NetJets, the global leader in private aviation, and Starlink have entered into an agreement to bring high-speed in-flight connectivity to 600 aircraft across NetJets’ global fleet by the end of 2026, unlocking a new level of productivity and exceptional travel experiences in the air. “This agreement with Starlink positions NetJets to continue delivering exceptional travel experiences for our Owners and their guests,” said Patrick Gallagher, President, NetJets Aviation. “With Starlink, travel is elevated with reliable connectivity whether our Owners are flying for business or leisure—as seamless connectivity is critical to the experience our Owners need and deserve.” This multi-year, service level agreement paves the way for NetJets to quickly and seamlessly outfit its aircraft across the U.S. and Europe, wi
Mercator Ocean International Makes AI Ocean Forecasting Operational with GLONET Validated by OceanBench at NeurIPS 202510.12.2025 15:00:00 CET | Press release
New benchmark sets the first science-based quality standard for AI ocean models, enabling GLONET’s operational deployment At NeurIPS 2025, one of the world’s leading AI conferences, Mercator Ocean unveiled OceanBench, the first open benchmark designed to assess AI Ocean forecasting models. This milestone follows the publication of Mercator Ocean’s AI model GLONET in September. Together, OceanBench and GLONET represent a decisive step toward integrating artificial intelligence into operational ocean forecasting, strengthening Europe’s leadership in trustworthy, AI-driven predictions at global scale. Presented by Anass El Aouni, Oceanographer and machine learning (ML) researcher, and Quentin Gaudel, ML Systems Architect, OceanBench establishes a unified standard to evaluate AI models against fundamental ocean dynamics. GLONET is the first forecasting system to be validated through OceanBench for operational use. Anass El Aouni : “OceanBench provides a transparent standard to evaluate AI-
Cleveland Clinic Neurological Institute and Baszucki Group Team Up to Advance Landmark Brain Study with Metabolic Health Markers10.12.2025 15:00:00 CET | Press release
The collaboration seeks to study gut-brain connections in neurological disorders Baszucki Group today announced an expanded commitment to the landmark Cleveland Clinic Brain Study. Launched in 2022, this ambitious longitudinal study plans to follow healthy individuals over a 20-year period with the goal of identifying early disease markers and therapeutic targets needed to prevent and ultimately cure neurological diseases. The commitment from Baszucki Group brings their total donation to the study to $450,000. The commitment was announced at Keep Memory Alive’s annual Summer Festival & Rodeo at Shakespeare Ranch in Glenbrook, Nevada, an event benefiting the Lou Ruvo Center for Brain Health and hosted by Larry and Camille Ruvo, co-founders of Keep Memory Alive. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251208681513/en/ Baszucki Group and Cleveland Clinic Neurological Institute expand impact of landmark brain study to inv
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