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Mindtree- Transforming Managed Services in Banking

Vendor Analysis

by Andy Efstathiou

published on Sep 23, 2020

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Report Overview:

This NelsonHall assessment analyzes Mindtree's offerings and capabilities in Transforming Managed Services in Banking.

Who is this Report for:

NelsonHall’s Transforming Managed Services in Banking Vendor Assessment for Mindtree is a comprehensive assessment of Mindtree’s Managed Services in Banking offerings and capabilities designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of managed services processes and identifying vendor suitability for Managed Services 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 managed services 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:

Mindtree was formed in 1999 with 10 IT executives and funding from venture capital investors. The company went public in December 2006. In June 2019, Larsen & Toubro took a controlling interest in the company with a 61.08% stake.

Mindtree has dual headquarters in Bangalore and Warren, N.J. As of mid-year 2020, Mindtree had 21.0k employees, $1,100 m in revenues, and 307 clients. Mindtree provides services for e-commerce, mobile applications, cloud computing, digital transformation, data analytics, software testing, application integration, and ERP. Mindtree initially offered application development and R&D services and then broadened its portfolio to include software testing and managed services.

Mindtree began its first managed services engagement in the BFS industry in 2009 with a global card and payments firm. The engagement covered the EMEA market with AMD services for 330 applications. The engagement transitioned the client from 5 vendors providing those services to one vendor. The engagement was focused on delivering to SLAs focused on application uptime.

Mindtree has grown its managed services business both organically and inorganically. Key acquisitions include:

  • Discoverture: a Duck Creek implementation services vendor
  • Magnet 360: a services vendor for Salesforce 
  • Bluefin: a services vendor for implementing SAP solutions

Over time Mindtree has grown its portfolio of managed services, including in September 2010, when Mindtree launched its managed security services offerings as part of its IT infrastructure management and tech support business unit.

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