Tech Mahindra will partner Innoveo, a leading Zurich-based technology software provider, to drive digital transformation and enhance its global customer experience in insurance, banking and wealth management.

The two enterprises will jointly leverage ‘No-Code’ platforms to accelerate the launch of custom-built applications without software coding in real-time across all banking, wealth management and insurance sectors for their collective network of clients.

“Through our partnership with Innoveo, Tech Mahindra will enable the digitisation of sales and distribution channels for enterprises to ensure the launch of new products in real-time, help them trade financial and insurance products through multiple distribution channels, and improve efficiency of processes,” Gautam Bhasin, Global Head Banking, Financial Services and Insurance, Tech Mahindra, said.

Innoveo Skye®, the flagship product of the Tech Mahindra and Innoveo collaboration, empowers businesses with the ability to launch powerful applications up to 10 times faster than the conventional development process.

Innoveo Skye® is fast and flexible, enabling financial businesses and carriers to go to market with new products in a matter of weeks.

"While the demands for agility, market proximity and the flexibility to adapt to new trends are constantly increasing, digital businesses are struggling with restrictions in terms of development capacity and the integration capability of its often-monolithic back-end legacy systems, said Amir Ghaffar, CEO, Innoveo.

“Our partnership and our flagship product Innoveo Skye® will open up differentiated solutions and opportunities for the customers of our two companies for faster implementation and innovation in the business environment,” he added.

This collaboration aligns with Tech Mahindra’s TechMNxt charter, focused on leveraging next-generation technologies like cybersecurity, artificial intelligence, blockchain, 5G, and internet of things to disrupt and enable digital transformation, to build cutting-edge technology solutions and services for customers globally.