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Tech Mahindra -The Advance of RPA and AI in Banking

Vendor Analysis

by Andy Efstathiou

published on Jan 14, 2019

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Report Overview:

This NelsonHall assessment analyzes Tech Mahindra’s offerings and capabilities in RPA and AI in Banking. Tech Mahindra is one of a number of RPA and AI services companies analyzed in NelsonHall’s comprehensive industry analysis programs. 

Who is this Report for:

NelsonHall’s The Advance of RPA and AI in Banking Vendor Assessment for Tech Mahindra is a comprehensive assessment of Tech Mahindra’s RPA and AI in Banking offerings and capabilities designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for RPA and AI 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 RPA and AI in Banking offerings, capabilities, and market and financial strength, including:

  • Identification of the company’s strategy, emphases 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 key service components
  • Analysis of the company’s delivery organization including the location of delivery locations.

Key Findings & Highlights:

Tech Mahindra began offering automation services, including RPA, in 2014. Its RPA and AI practices are in its automation unit (CAT: Center for Automation Technologies).  Tech Mahindra decided to focus its automation efforts on industry-specific processes. Due to its legacy heritage in the telco industry, Tech Mahindra began its efforts with RPA support for processes associated with the digital channel. Today it supports RPA initiatives in the following industries:

  • Telco
  • Retail
  • BFSI
  • MLEU
  • Horizontals: SCM, Procurement, and F&A.

Tech Mahindra made its first deployment of RPA in a bank’s operations in 2015. To build its RPA business, Tech Mahindra has decided to focus on retail banking, wealth management, and commercial banking.

Tech Mahindra frequently builds capabilities by acquisition and has made several acquisitions to support its banking BPS business and expand its RPA and AI offerings. Key acquisitions include:

  • SOFGEN: a niche consulting and ITS company specializing in private/wealth, commercial and retail banking solutions (acquired in Q1 2015)
  • Target Group: a U.K. firm that provides BPaaS offerings in the areas of lending and investment products servicing, on variable pricing models, (acquired in Q2 2016)

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