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Tech Mahindra - Transforming the Banking Industry with ESG Services

Vendor Analysis

by Andy Efstathiou

published on Dec 04, 2023

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Report Overview:

This NelsonHall vendor assessment analyzes Tech Mahindra's offerings and capabilities in ESG services for the banking and financial services sector

Who is this Report for:

NelsonHall’s ‘Transforming the Banking Industry with ESG Services’ profile on Tech Mahindra is a comprehensive assessment of Tech Mahindra’s offerings and capabilities for the BFS sector, designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of ESG services and identifying vendor suitability for ESG 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 Tech Mahindra’s BFS-focused ESG service offerings and capabilities and market and financial strength, including:

  • Identification of the company’s strategy, eTech Mahindra, 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 Tech Mahindra service components
  • Analysis of the company’s delivery organization including the location of delivery centers.

Key Findings & Highlights:

Tech Mahindra began its ESG journey in 2009 when it decided to implement an internal ESG program. By 2011, it started working on ESG projects for clients. In September 2022, it formally launched an ESG business unit. The pace of ESG services development and deployment has been accelerated since 2022 because India made ESG compliance disclosure mandatory for enterprises.

BFSI is Tech Mahindra’s second largest industry sector, representing 16% of its revenues. Tech Mahindra generated  $1.7bn in revenues, up from $100m over the past twelve years. To address the ESG needs of this vertical, the company has been building COEs, solutions, and services to manage climate change, climate risk, and green finance.  

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