Expleo, a global leader in engineering, technology, and consulting services, in collaboration with Mashreq, a prominent financial institution in the UAE and MENA region, has achieved recognition for their innovative contributions to the financial technology sector. The duo was awarded the Best Quality Assurance and Quality Engineering execution accolade at the IBSi Global FinTech Innovation Awards 2024. The awards ceremony took place on 22nd November 2024, at Taj Lands End in Mumbai, attracting attention from various innovators and disruptors in the financial services ecosystem.
This recognition comes on the heels of a comprehensive digital revamp of Mashreq’s corporate client onboarding processes, which aimed to enhance client experience and operational efficiency. With over five decades of legacy, Mashreq engaged Expleo to completely digitalise its onboarding and compliance processes, transitioning from traditional manual workflows to an advanced, fully automated system. This transformation was marked by significant reductions in manual testing efforts and a dramatic increase in operational efficacy.
The upgraded system integrates innovative automation features, such as document processing and Optical Character Recognition (OCR) for automatic data capture. As a result, Mashreq now operates a faster, more secure, and frictionless client onboarding solution that adheres to Central Bank standards and is scalable for future growth.
Phani Tangirala, Managing Director and CEO of Expleo, expressed pride in being recognised alongside Mashreq, stating, "We are honoured to share this recognition with Mashreq as their trusted partner in digital assurance. This collaboration highlights the powerful outcomes possible when quality engineering meets digital innovation." Meanwhile, Sajeev Kumar, Executive Vice President and Head of Corporate Banking Technology at Mashreq, noted that the award reflects their enduring commitment to client-centric innovation, highlighting their choice of Expleo as a partner for their expertise in Quality Assurance and Quality Engineering.
In a related development within the digital transformation sector, Apexon, a digital-first technology services company, has announced a strategic partnership with EvoluteIQ, a pioneer in AI-driven hyper-automation. This collaboration aims to create comprehensive solutions that leverage advanced AI technologies to enhance productivity and minimise operational complexities for enterprise customers.
The partnership combines Apexon's extensive digital engineering expertise across sectors like financial services, healthcare, and retail with EvoluteIQ's AI-enabled Intelligent Business Automation Platform. This integrated low-code/no-code platform offers robust automation capabilities, facilitating end-to-end digital transformation at scale.
Sriniketh Chakravarthi, CEO of Apexon, described the partnership as a "pivotal step" toward next-generation digital transformation, stating, "With EvoluteIQ’s robust low-code/no-code hyper-automation platform, we are ideally positioned to drive efficiency, boost productivity, and create tangible impacts."
EvoluteIQ focuses on empowering enterprises with intelligent automation solutions designed to simplify processes while delivering insights and governance. Deepak Kinger, Co-Founder and Chief Strategy Officer of EvoluteIQ, highlighted that their collaboration with Apexon would key into the complexities faced by regulated sectors, asserting that their combined expertise would provide agility and precision in tackling these challenges.
Both partnerships highlight a significant trend in the ongoing evolution of AI automation across industries, showcasing how financial institutions and technology service providers are leveraging emerging technologies to create more efficient and adaptive business practices. The strategic initiatives underway not only enhance customer experiences but also reinforce operational frameworks critical for growth and sustainability in an increasingly competitive landscape.
Source: Noah Wire Services