Vendor Analysis
published on Jul 20, 2023
Report Overview:
This NelsonHall vendor assessment analyzes LTIMindtree's offerings and capabilities in intelligent automation for the banking and financial services sector.
Who is this Report for:
NelsonHall’s ‘Transforming Intelligent Automation in Banking’ profile on LTIMindtree is a comprehensive assessment of LTIMindtree’s offerings and capabilities for the BFS sector, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of intelligent automation process services and identifying vendor suitability for intelligent automation services in banking RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the support services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of LTIMindtree’s BFS-focused intelligent automation service offerings and capabilities and market and financial strength, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and LTIMindtree service components
- Analysis of the company’s delivery organization including the location of delivery locations.
Key Findings & Highlights:
LTIMindtree was formed in November 2022 from LTI and Mindtree, both subsidiaries of Larsen & Toubro. The predecessor companies began delivering process automation services in 2015 with an engagement for a U.K.-based global bank. The engagement delivered automation assessment and implementation services for lending processes. The initial stage was automating indexing processes. Since then LTIMindtree has developed IA services focusing on document processing, indexing, contact center automation, loan automation, and IA management (IAOps) services.
LTIMindtree has grown its IA capabilities by acquisition for technology delivery capabilities and by partnering with FinTech vendors for functionality and IP. Increasingly LTIMindtree is shifting its automation focus from task automation to process chain automation (hyper-automation). It is increasingly building productized offerings for its markets. To enable productizing its offerings, in 2022 it increased the number of its reusable components for automation by 35% over the prior year. The merger between LTI and Mindtree has created a large cross-sell opportunity across the client base because there was little overlap of clients or offerings delivered.