Larsen & Toubro Infotech Ltd., a global technology consulting and digital solutions company has entered into a strategic engagement with Hoist Finance AB, a pan European financial services company, to provide Banking-as-a-Service for Performing Loans segment through its Digital Banking Platform.
Klaus-Anders Nysteen, CEO, Hoist Finance, said, “The strategic partnership with LTI is in line with our growth strategy for performing loans segment in Europe. It will help us strengthen Hoist’s positioning as a leader in this segment with digital-first strategies. LTI has been a strategic partner for Hoist since 2019 and has supported multiple transformation initiatives, spanning workplace transformation, infrastructure transformation and migration to the cloud. Onboarding LTI’s digital banking platform was a natural extension of our strategic partnership.”
Sanjay Jalona, CEO & Managing Director, LTI, said, “LTI’s digital banking platform combines our functional and technological expertise to modernize operations without huge upfront investment or license cost. The consumption based model offered by the platform will enable banks to stay competitive without worrying about technology cycles. We are proud of our partnership with Hoist, and look forward to enabling their expansion across Europe.”
Julia Ehrhardt, Chief Retail Banking and Business Development Officer, Hoist Finance, added, “LTI’s state-of-art digital banking platform will facilitate Hoist in accomplishing its strategic objective of enhancing its market share in the retail banking segment which is estimated to grow from 700 Million SEK currently to 4 Billion SEK by 2023. LTI’s platform is fully scalable, providing Hoist with the agility to expand its performing loans and deposits offering into all of our markets.”
With presence across Sweden, Denmark, Norway, and Finland, LTI is an IT Consulting and digital solutions providers in the Nordic region.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.