Tech MahindraRSS

Banking tech consultant and integrator Sofgen to be absorbed into Tech Mahindra

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Sofgen, a Switzerland-based IT consultant and integrator in the financial services and banking space, is undergoing major organisational restructuring. As a result, it will be completely absorbed into its parent, Tech Mahindra, Banking Technology understands.

IBM in major IoT drive with new partners

IBM working with Standard Life and ING Direct Australia

IBM has unveiled a large ecosystem initiative as it opens the doors of its new $200 million global headquarters for its Watson Internet of Things (IoT) business in Munich, Germany. BNP Paribas, Capgemini and Tech Mahindra are some of the firms who will place development teams at the IBM centre. Harriet Green, general manager, IBM […]

UK BPO and fintech provider Target Group buys Commercial First

Target Group

Target Group, a UK-based business process outsourcing (BPO) and software vendor, has purchased the operating business of Commercial First, a provider of commercial and residential mortgage servicing, due diligence and property valuations. Commercial First, also based in the UK, provides clients with services in the real estate lending market ranging from loan administration through to […]

Barclays Wealth enlists Tech Mahindra for tech modernisation

Barclays Wealth in tech modernisation

Tech Mahindra and its specialist banking IT consultancy and integration subsidiary, Sofgen, have been recruited by Barclays Wealth for its tech modernisation initiative. Barclays has been rolling out a new core banking platform – Avaloq Banking Suite – for a number of years, as well as a new front-office investment management platform, Charles River’s IMS. […]

UK BPO and fintech provider Target Group acquired by Tech Mahindra

Nomura and Simcorp extend partnership

India-based IT heavyweight Tech Mahindra is spending £112 million on Target Group, a UK-based business process outsourcing (BPO) and software vendor. Target focuses on the lending, investment and insurance sectors, claiming around 50 financial institutions in the UK as customers. Among them are Yorkshire Building Society, Shawbrook Bank, Central Trust and Masthaven. It also works […]

IT overhaul at Somalia’s central bank with Sofgen, Temenos and Oracle FSS

Central Bank of Somalia in IT modernisation venture

Central Bank of Somalia is embarking on a major tech overhaul, with sponsorship from the World Bank. The bank will implement a new core banking system, Temenos’ T24, and a new ERP system from Oracle FSS. Swiss IT consultancy firm Sofgen has been recruited to deliver the project. The first phase is estimated to cost […]

Nationwide selects Tech Mahindra for network and infrastructure revamp

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Nationwide Building Society has chosen Tech Mahindra, an Indian IT services company, to provide network and infrastructure services in a five-year partnership agreement. The building society’s ambition is to connect its UK retail operations, comprising around 700 branches to more than 15 million customers. It also plans new services in its branches, such as Nationwide […]

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